GBPUSD: Live trading update
Hello all,
If you saw my previous chart on GBPUSD, you would know that I am in an active short since the orange line. Here's a quick look into what I'm observing while the trade is active. On the 4hr time frame, we have developed a channel. The current candlestick is a particularly important one:
If we close this candle within the channel, and form a "hammer" style candlestick, it is likely we will see a reversal and push toward the top of the channel again. If the hammer forms, I will close my short temporarily.
However, If we close outside the channel, the candlestick will be much more bearish. It will be the third red candle, creating a three black crows pattern which is very bearish. If this occurs, the short will remain active.
Happy trading!
If you saw my previous chart on GBPUSD, you would know that I am in an active short since the orange line. Here's a quick look into what I'm observing while the trade is active. On the 4hr time frame, we have developed a channel. The current candlestick is a particularly important one:
If we close this candle within the channel, and form a "hammer" style candlestick, it is likely we will see a reversal and push toward the top of the channel again. If the hammer forms, I will close my short temporarily.
However, If we close outside the channel, the candlestick will be much more bearish. It will be the third red candle, creating a three black crows pattern which is very bearish. If this occurs, the short will remain active.
Happy trading!
Note
Tricky tricky. Is it in yet (thats what she said)Note
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.