Get started

Bearishgbp

Bearish (SHORT) GBPJPY-DXY is appears to be bullish so I am looking to go long on USD. -GJ and GU have a strong correlation and I am bearish GU so I am also bearish GJ -On the weekly TF you will see price made a bullish push to the upside followed by last week candle that displayed a lot of bearish pressure and closing as a somewhat inverse hammer. -Although price did make a large bullish push, price never broke the previous high (on the daily), confirming that the trend is still in tact. -A huge bearish push followed by a bearish "doji"/reversal candle is a tale tale sign that price is ready to move in the opposite direction. -Expecting price to make a brief retracement before making another bearish move to the downside. Please Like, Follow, Comment. What is your analysis?
Short
by NoCeilingsTrading
Minor Pullback but Overall BEARISH ON GBPNZDInitially, price was on an uptrend, making higher highs and higher lows. Price then met resistance at the daily resistance/supply level. Here price then formed a double top, which when a double top occurs at the end of an uptrend it can serve as a candlestick reversal pattern. With this formation also occurring at the daily resistance, this is potentially a strong bearish confluence or confirmation. After the creation of the double top price then broke below the neckline, and it appears to have made a brief bearish push and formed a low. Now I am expecting price to pullback and either test the neckline of the double top or at least pullback and test the 50.0 fib level. I think this would ultimately create a lower high and prepare price for its next major bearish push to the downside. Feel free to like if you agree. If you see something else, leave a comment please.
Short
by NoCeilingsTrading