GBPUSD Sell setup 2/17/19
Price shot up on friday to a very key area before finally closing the last hourly candle engulfing bearishly. We have been in a down trend for some time now, and fridays move up appears to be setting up the sell very nicely early this week. Once the market opens, I will be looking for an entry setup to short this pair. When this pair shot up late Monday, it stopped out all of the retail sellers by clearing the most recent smaller time frame lower highs. It rose just high enough for smart money to mitigate out of their previous buy (no coincidence) and is showing a started move down.. As long as the market doesn't open with a gap down, I will be placing sell limits just about current price with a 30pip stop loss.
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