Unsustained move to the upside after clearing liquidity below lows, price reacted impulsively and I'm expecting price to come back and mitigate. Lines up nicely with the discount region of the fib and an order block with an inneficieny in the same area. Momentum is also to the upside, let's see how price reacts
GBPUSD - It's one of the rarest days we are witnessing today, I suggest you to trade with small lots.
My approach at this point of time in GBPUSD will be a short sell at current price 1.28500
Potential target 1.27680 Maintain stop loss at 1.29000
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Why you should follow this...
Dear traders,
British pound against US Dollar , have seen low on friday after some upward momentum on thursday, price action supports that it has a strong resistance of 1.30..so it looks to go down around the area of 1.27 this week, fundamentals and dollar index also supports the same.. hope currently this pair is in control of the bears..
Will wait for the price to form a bear flag pattern to enter short.
Please Note:
Just knowing the direction of the next move will not help being profitable.
There is a lot more to it with regards to the entry technique and successfully managing the trade after entering the trade.
If you look at my previous trades, 90% are impulsive moves covering about average...
Will wait for a bear flag formation to enter short
Please Note:
Just knowing the direction of the next move will not help being profitable.
There is a lot more to it with regards to the entry technique and successfully managing the trade after entering the trade.
If you look at my previous trades, 90% are impulsive moves covering about average of 80-100...
Pound against dollar pair, has seen the lowest price in the last 6 weeks, and it bounces back from 1.27 area in the last two days, but before the week ends again it may seen the same low price agains. may it forms the double bottom to go up from next week onwards..
