Short

GBPUSD- 4HR TRADING STRATEGY

Updated

GBPUSD is shaping out triangle -in which d-leg has started but could be confirmed if 1.4365 level is taken out fast & going below 1.42979 shall make the bearish case even more stronger. If that is not the case & one think that GBPUSD is bullish-it has to take out 1.4469 but that is not going to change the overall structure which is bearish triangle & shall be advised to trade shorts only once 1.4365 is taken out. Usually triangles trap participants & take you for ride.Trade with care. Regards

Note

We are yet not confirmed of downtrend or d-leg as 1.4365 is still not taken out but yes we have touched a-leg high so benefit of doubt should be given to triangle...unless we close above a-leg...This whole structure will be somethingelse & we shall look for another trading strategy. Regards

WaveTalks

Best Regards,
Abhishek H. Singh
Growth Director - TradingView India

YouTube Channel youtube.com/channel/UCYcnYveYBNLD-Qp54hvZogw

Twitter Handle
twitter.com/TalksWave

Telegram Handle
(Deleted)

Also on:

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.