GBPUSD Fibo Positioning for Short Trade
This idea was first posted on Dec 18 but was hidden as I unknowingly violated one of TV's house rules and the idea was hidden. Reposting for everyone's reference after a further dip. Watch out for the retracement to enter short!
Having cleared the last bullish fibo uptrend at the 1.618 level, GBPUSD has turned very bearish in the short term. For traders who have taken my last idea for a take profit level guideline, well done for taking the profit in the pocket.
Expecting support to come in around 1.28 to 1.3 levels before retracement up to 1.32 takes place. Watch for the 61.8% retracement to enter for a 4X risk reward short trade.
Happy trading and please click agree/like on this idea to support my work as well as follow my Tradingview profile to get more trade ideas update.
Having cleared the last bullish fibo uptrend at the 1.618 level, GBPUSD has turned very bearish in the short term. For traders who have taken my last idea for a take profit level guideline, well done for taking the profit in the pocket.
Expecting support to come in around 1.28 to 1.3 levels before retracement up to 1.32 takes place. Watch for the 61.8% retracement to enter for a 4X risk reward short trade.
Happy trading and please click agree/like on this idea to support my work as well as follow my Tradingview profile to get more trade ideas update.
Look to enter short at 1.3250 to 1.33 levels.