GBP/USD - SHORT POSITION
MONTHLY:
- WE ARE IN A LONG TERM DOWNTREND AFTER COMING OUT OF YEARS OF SIDEWAYS TRADING IN A LARGE RANGE
- CURRENTLY SITTING AT A LEVEL THAT IS CREATING A LONG TERM TRIPLE BOTTOM
- EMAS ARE STRONGLY BEARISH , PRICE WELL UNDER BOTH THE 50EMA AND 200EMA
- JANUARYS CANDLE WAS MAKING BEARISH PROGRESS
- FEBRUARY HAS CLOSED UP AS A BEARISH SHOOTING STAR WITH A GOOD CLOSE
WEEKLY:
- LARGE WEEKLY FIBONACCI WAS REJECTED AT THE 50% LEVEL WHICH WAS IN LINE WITH A FANTASTIC 200EMA BOUNCE
- WE ARE IN A STRONG DOWNTREND MAKING LH'S AND LL'S, DUE A LOWER HIGH NEXT
- PRIOR WEEKLY HEAD AND SHOULDERS PATTERN HAS BEEN COMPLETED
- EMAS ARE FIRMLY BEARISH AND PRICE IS VERY FAR UNDERNEATH BOTH EMAS
DAILY:
- LARGER FIBONACCI HIT 50% WITH AN EVENING STAR AND HAS ALMOST BEEN COMPLETED
- SMALLER FIBONACCI NOW EXPECTING A GOOD 50% RETRACEMENT IN LINE WITH OTHER CONFLUENCES
- PRICE MAKING LH'S AND LL'S AND DUE A SMALLER LOWER HIGH IN LINE WITH FIB BEFORE CONTINUING DOWN
- EMAS ARE BEARISH AND WE COULD BE ON OUR WAY TO A GOOD STRONG 50EMA BOUNCE OVER THE NEXT COUPLE OF WEEKS
WAITING FOR:
- DAILY CANDLE CLOSE
- COULD THEN TAKE A SHORT TO 1.3750 AS T1 AND 1.3600 AS T2
- STOP LOSS ABNOVE 1.4300
- WE ARE IN A LONG TERM DOWNTREND AFTER COMING OUT OF YEARS OF SIDEWAYS TRADING IN A LARGE RANGE
- CURRENTLY SITTING AT A LEVEL THAT IS CREATING A LONG TERM TRIPLE BOTTOM
- EMAS ARE STRONGLY BEARISH , PRICE WELL UNDER BOTH THE 50EMA AND 200EMA
- JANUARYS CANDLE WAS MAKING BEARISH PROGRESS
- FEBRUARY HAS CLOSED UP AS A BEARISH SHOOTING STAR WITH A GOOD CLOSE
WEEKLY:
- LARGE WEEKLY FIBONACCI WAS REJECTED AT THE 50% LEVEL WHICH WAS IN LINE WITH A FANTASTIC 200EMA BOUNCE
- WE ARE IN A STRONG DOWNTREND MAKING LH'S AND LL'S, DUE A LOWER HIGH NEXT
- PRIOR WEEKLY HEAD AND SHOULDERS PATTERN HAS BEEN COMPLETED
- EMAS ARE FIRMLY BEARISH AND PRICE IS VERY FAR UNDERNEATH BOTH EMAS
DAILY:
- LARGER FIBONACCI HIT 50% WITH AN EVENING STAR AND HAS ALMOST BEEN COMPLETED
- SMALLER FIBONACCI NOW EXPECTING A GOOD 50% RETRACEMENT IN LINE WITH OTHER CONFLUENCES
- PRICE MAKING LH'S AND LL'S AND DUE A SMALLER LOWER HIGH IN LINE WITH FIB BEFORE CONTINUING DOWN
- EMAS ARE BEARISH AND WE COULD BE ON OUR WAY TO A GOOD STRONG 50EMA BOUNCE OVER THE NEXT COUPLE OF WEEKS
WAITING FOR:
- DAILY CANDLE CLOSE
- COULD THEN TAKE A SHORT TO 1.3750 AS T1 AND 1.3600 AS T2
- STOP LOSS ABNOVE 1.4300
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.