In the saying of "the trend is your friend", it wouldn't be advisable to go against the downward plummeting of most major pairs right now. The only way you can make money is when you align yourself with the direction of the trend. There's a disturbing Counter Trendline view that is currently giving price movement some headache however, judging with the strength of...
In the overall outlook, GBPUSD looks bearish according to Technical Analysis. With the long Impulse leg to the downside, signifying the first phase of the Elliot Waves, we are almost sure that the trend direction has changed but be careful. There should be a slight pullback into the most recent Order Block just a little bit above, before finally crashing to the...
After a successful rally to the upside, the volatile index is experiencing a difficult time continuing its rally upwards. Encountering a minor psychological level, price is bound to be repelled towards a bearish direction as it confluences with a mitigation level. Remember even if price doesn't go your way, NEVER STOP TRUSTING YOUR SETUP.
Please find complete chart prior to previous post.
All thanks to the CPI news release, prices has got enough volatility to push to an interested region. Contained in the chart is a region of LIQUIDITY GRAB as well as MITIGATION. I'd expect to see a rally down of price from this region thereafter. Remember, not all trades will go your direction however, do not stop believing in your setup.
A long ride to the downside, gold will take out the long spike candle