eraxular
Short

GBPUSD time to sell?!?!

FX:GBPUSD   British Pound / U.S. Dollar
Here on the GBPUSD , i am still looking for further confirmation to take this trade. Price is currently in a bullish channel but is currently lacking buying volume and failing to reach any new Hi's above the major resistance level @1.29830 level. this may be due to exhaustion of buyers in market leading to greater selling pressure. Also the MAC-D line is about to cross over the signal line which is another 'SIGN' of a potential Bearish outbreak. I will only use the MAC-D to support ideas, never to trade purely based on that.
I am hoping to see more rejection of this major resistance level followed by a gradual decline in price.

Comments

No, buy !!!
+4 Reply
good
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Unlucky man, you got wicked out, if the market is still making higher lows then you know it's still in an uptrend
Reply
eraxular Issaxlj
@Issaxlj, That is true, thanks for your feedback man.
Reply
freekodak Issaxlj
@Issaxlj, yes but if he waitedf, he could see that it was losing momentum. you can't always just wait for a downtrend to happen and ride that wave.
Reply
Nice one will try👍
Reply
From a macro point if brexit gets done this trade gets smoked. Would do it via options if I were you as even stops will gap. Can still buy pretty cheap low delta options or a structure that will pay well. Thanks for idea.
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Nice one
Reply
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