GBPUSD ShortOANDA:GBPUSD
GBPUSD is in an overall downtrend with clear lower lows and lower highs.
It just broke support and all I am waiting for is a retest to go short
Brokesupport
Bloktopia expect some downwards movement Blok has just broke the key support line, we are still bullish, as we are way above the 618 fib, but expect some downwards momentum for the time being.
GOLD for the SELLLast day candle is going to close below the Strong Support line at 1860 which is considered a break in support.
If you look at the other touches I circled, no candle closed below the line without selling for a bit.
Also another reason to support this sell is the head and shoulders formation, we already have a shoulder and a head and if you look closely it’s possible a right shoulder is forming.
Also the touches inside the small trend lines makes the resistance even stronger.
Everything from my perspective right now leads to a sell. The only situation that could support the buyers is very convenient news leading to USD losing value.
Summary: Candle couldn’t break resistance and it’s gonna close below support, while possibly forming the right shoulder for the H&S formation.
I’m a buyer and a seller so I’m open minded to both options.
But I realize those that are specialized in one type of order are close minded to other possibilities.
So if you’re strictly a buyer and gonna comment with negativity save it 😂😂
FINANCIAL SECTOR LEAD BEAR FOR THE MARKETTICKER: $XLF
Financial sector is the clear lead bears for the market. We rejected hard at 31.10ish level and broke key support level of 30.46. In my opinion, this is the reason why $SPY pulled back hard.
We had huge bear volume on Friday and if we break the low of Friday (30.20), look for a continue dump to fill the gap under 30.13.
Can the bears dethrone the bulls in the short term?
USDCHF Breaks 3-week lowsUCHF Finally broke the 3-week support. Now let's wait for the retest to complete so we can go short.
EUR/AUD SHORTPrice has broken a strong daily support, it has wicked and tested area once. It has setup for a nice short, with a great R:R.
Targets and stop loss are on chart.
*Risk management is KEY!
