July 5th GBPUSD
Updated
Looks like a breakout from the downtrend, but I do think the breakout cannot be solidified yet due to Independence Day with extremely low liquidity.
I am neutral at this moment, but I do think this uptrend is not too sustainable with some downside certainly. If it falls into the downside trend again, we can then play the short game. But as for now, watch for the small uptrend, long or short depends on the trend and needs 4hrs candles confirmation.
I am neutral at this moment, but I do think this uptrend is not too sustainable with some downside certainly. If it falls into the downside trend again, we can then play the short game. But as for now, watch for the small uptrend, long or short depends on the trend and needs 4hrs candles confirmation.
Comment
Now this would be the case to watch for. Outside of the upward trend, but still no confirmation yet. Looking at 30 minutes and I see bearish signals, but wait & play will always be the best strategy.I am opening 1/5 of my planned position, and let's see what happens next.
Related publications
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.