Hello Everyone!
How are you all?
GbpUsd is a pair to watch the coming days and weeks, because it is shaping up very nicely for a bearish trend reversal that we can capitalize on.
So, I will be looking for a bullish continuation because of the following reasons:
1. Potential Double Top.
2. The price is approaching the value area structurally.
Game Plan:
If the price comes to the VA, and rejects at that level or sweeps the High, and makes a bearish impulse followed by a flag with two highs and lows.
Entry : will look for a risk sell entry within the flag or a reduced risk entry on the breakout of the flag.
However, could look for a short term bullish move to the VA.
How are you all?
GbpUsd is a pair to watch the coming days and weeks, because it is shaping up very nicely for a bearish trend reversal that we can capitalize on.
So, I will be looking for a bullish continuation because of the following reasons:
1. Potential Double Top.
2. The price is approaching the value area structurally.
Game Plan:
If the price comes to the VA, and rejects at that level or sweeps the High, and makes a bearish impulse followed by a flag with two highs and lows.
Entry : will look for a risk sell entry within the flag or a reduced risk entry on the breakout of the flag.
However, could look for a short term bullish move to the VA.
Note
Correction for the fourth paragraph:So, I will be looking for a bearish reversal because of the following reasons:
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.
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.