Why I Think GBPUSD Will Continut to Sell
Hey Rich Friends,
I think GBPUSD will continue to sell this week and here is what I am looking at.
- The first thing I noticed was that the market has already rejected 2 previous supply zones and is continuing to fall
- The current candle has opened and closed below the 50 EMA
- The STOCH is facing down and below 0
- Sellers seem to be gaining momentum.
I entered this trade at market execution and have sell limits in the previous supply zones. My target areas will be previous lows.
This is only my technical analysis so please make sure check your charts and the news for additional confirmations.
Peace and Profits,
Cha
I think GBPUSD will continue to sell this week and here is what I am looking at.
- The first thing I noticed was that the market has already rejected 2 previous supply zones and is continuing to fall
- The current candle has opened and closed below the 50 EMA
- The STOCH is facing down and below 0
- Sellers seem to be gaining momentum.
I entered this trade at market execution and have sell limits in the previous supply zones. My target areas will be previous lows.
This is only my technical analysis so please make sure check your charts and the news for additional confirmations.
Peace and Profits,
Cha
Trade closed: target reached:
Market retested both supply zones and targets were hit. Hope yall were able to profit from this idea.
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