GBP/USD analysis (15yo trader)

8 de dez. de 2020

based on my analysis, the trend might go to an end because the market has reached its previous swing point (4-hour timeframe). after further observation, the market has formed an accumulation in that area(4-hour timeframe), which means that there is selling pressure and sellers are unlikely to give up. I will open my position for short after the market break its support on 4 hour chart and after it breaks its previous swing point. if it shows a strong bear candle after it breaks its swing and resistance point/area I will assume that it is a false breakout and might continue to fall. if the candle continues to fall and go back to its previous S&R I will go for short because it will continue to fall due to the high number and powerful seller. I can say that the seller is more powerful because they pushed the candle down.