GBPUSD : Short-term correction is due !
Updated
Ladies and gentlemen,
Overall :
After a breakdown of the yearly range in 2016, GBPUSD is now in a bear market. But recently GBPUSD had finally breakout his triangle. Now what ?
Trade :
The price is currently overvalued, topping on a Daily 9. It should retrace to the area of the breakout and at this time, if it finds support, a (short to mid-term) bullish trade will be confirm. On Daily a nice double bottom is trying to form and this triangle on 4h could help it to realize.
Type of trade : Continuation (consolidation).
Time-frame : 4h (short-term trade).
Tell me which asset you would love me to chart !
Please comment, like, share and follow me to receive my new charts everyday !
DISCLAIMER : I'm not a financial advisor. I can't be responsible for your losses. You trade at your own risk.
Overall :
After a breakdown of the yearly range in 2016, GBPUSD is now in a bear market. But recently GBPUSD had finally breakout his triangle. Now what ?
Trade :
The price is currently overvalued, topping on a Daily 9. It should retrace to the area of the breakout and at this time, if it finds support, a (short to mid-term) bullish trade will be confirm. On Daily a nice double bottom is trying to form and this triangle on 4h could help it to realize.
Type of trade : Continuation (consolidation).
Time-frame : 4h (short-term trade).
Tell me which asset you would love me to chart !
Please comment, like, share and follow me to receive my new charts everyday !
DISCLAIMER : I'm not a financial advisor. I can't be responsible for your losses. You trade at your own risk.
Note
We made a significant pullback and now price is growing again to complete the wave 5 !Note
Price is on the support now as expected (timeframe is little wrong), price should rebound to complete wave 5.Note
For now the trade is working perfectly !Trade closed manually
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Disclaimer
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