GBPUSD - a high risk short call
**Daily:
-** Overall trend is pretty bullish!
- Also forming an overextended W pattern.
- Creating a fake breakout from the consolidation zone (grey box)
- Expecting a profit taking phrase coming soon at the resistance zone and the trendline.
**4H:
-** Overall trend is bullish as well. The price goes higher after the touching the trendline and 200 EMA, which made the fake breakout happened in daily
**-**The price surges higher after the fake breakout in 4h, which means that the price will definitely do a correction soon.
- Newest MACD shows bullish momentum begins to weaken a little.
**What to do now? When to sell?**
- Do notice that the pair is currently in a very bullish trend. Selling can bear a lot of risks.
- My bias is towards selling the pair when the exhaustion of the impulse happens, especially in the trendline and resistance zone.
Trade Carefully and good luck traders!
-** Overall trend is pretty bullish!
- Also forming an overextended W pattern.
- Creating a fake breakout from the consolidation zone (grey box)
- Expecting a profit taking phrase coming soon at the resistance zone and the trendline.
**4H:
-** Overall trend is bullish as well. The price goes higher after the touching the trendline and 200 EMA, which made the fake breakout happened in daily
**-**The price surges higher after the fake breakout in 4h, which means that the price will definitely do a correction soon.
- Newest MACD shows bullish momentum begins to weaken a little.
**What to do now? When to sell?**
- Do notice that the pair is currently in a very bullish trend. Selling can bear a lot of risks.
- My bias is towards selling the pair when the exhaustion of the impulse happens, especially in the trendline and resistance zone.
Trade Carefully and good luck traders!
Trade fechado: stop atingido