GBP/USD_4th Week of April 2021
From Higher TF (Weekly & Daily), price remain bullish and now in it's correction phase. I use the resistant trendline to measure the breakout and as an entry point for Long position.
However we need to also respect a continuation for bearish movement in lower TF (1 Hour) as price is potentially forming a double top formation which indicate a bearish pattern
*Key is to look for the price action and structure
However we need to also respect a continuation for bearish movement in lower TF (1 Hour) as price is potentially forming a double top formation which indicate a bearish pattern
*Key is to look for the price action and structure
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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.