Short On GBP/USD SELL SELL SELL !!!
Reasons for
-On the four hour we have been testing that upper trend line for some time now and price simply aint breaking it
-Also we are putting in Lower Highs A sign of change of trend and a reversal
-We also have broken our Wedge to the downside which confirms bearish momentum
-We have also Held at the 0.618 Fib levels numerous times from the highs high on the up move
Therefore i believe the 4 hour timeframe is bearish
Daily
-On the daily we are clearly in a long term down trend
-There alot of wicks to the upside shows more selling pressure
-This pull up can be seen as a small correction
-After todays candle which is shaping up to close as a bearish engulfing if so A bearish reversal sign
-Also price closes bearish it would have engulfed almost 4 days worth of price action
-Fridays candle was a doji so this signifies indecision so price putting in a Bearish engulfing gives us the signal that we are going Bears again
-We also trading at a key level of 1.45000 that has stalled price and show RES
Therefore i believe the Daily is bearish
Weekly
-Firstly last weeks candle was a doji on our key level of 1.45000
-Yes i no we are only 2 Days into the week (Tuesday) But if this week carries on being bearish we could be looking at a long term selling setup But we will wait for that to happen
-We are clearly down trending on the weekly
The trend is your friend ;)
-So the bullish movement we've had over the past two weeks could be a simple correction before another move down and create another Leg down
-Also we are near all time lows so perhaps we are going to test that again before anymore bullish movement (LongTerm)
Therefore i am bearish on the weekly too
My Entry : 1.44350
3 Timeframes all bearish :)
Only 1-3% of account proper risk management
Trade safe
If you liked this analysis and Setup
Follow and give thumbs up Also id love to hear what you guys think of the setup :)
Wishing everyone a great trading Week :)
-On the four hour we have been testing that upper trend line for some time now and price simply aint breaking it
-Also we are putting in Lower Highs A sign of change of trend and a reversal
-We also have broken our Wedge to the downside which confirms bearish momentum
-We have also Held at the 0.618 Fib levels numerous times from the highs high on the up move
Therefore i believe the 4 hour timeframe is bearish
Daily
-On the daily we are clearly in a long term down trend
-There alot of wicks to the upside shows more selling pressure
-This pull up can be seen as a small correction
-After todays candle which is shaping up to close as a bearish engulfing if so A bearish reversal sign
-Also price closes bearish it would have engulfed almost 4 days worth of price action
-Fridays candle was a doji so this signifies indecision so price putting in a Bearish engulfing gives us the signal that we are going Bears again
-We also trading at a key level of 1.45000 that has stalled price and show RES
Therefore i believe the Daily is bearish
Weekly
-Firstly last weeks candle was a doji on our key level of 1.45000
-Yes i no we are only 2 Days into the week (Tuesday) But if this week carries on being bearish we could be looking at a long term selling setup But we will wait for that to happen
-We are clearly down trending on the weekly
The trend is your friend ;)
-So the bullish movement we've had over the past two weeks could be a simple correction before another move down and create another Leg down
-Also we are near all time lows so perhaps we are going to test that again before anymore bullish movement (LongTerm)
Therefore i am bearish on the weekly too
My Entry : 1.44350
3 Timeframes all bearish :)
Only 1-3% of account proper risk management
Trade safe
If you liked this analysis and Setup
Follow and give thumbs up Also id love to hear what you guys think of the setup :)
Wishing everyone a great trading Week :)
Nota
May close early due to Major news For GBP
so may close 10 minutes before depending on how the trade looks :)
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As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.
Publicações relacionadas
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.