Short Position: Sterling Pound into the bearish movement
Hello traders, In this analysis, we see another short opportunity for the British's currency to sell it. Because guys, as Sterling has the bad news of the previously week, this specualte news the U.K. ministry decide it to put bad news for this week about the No-Deal Brexit strategy.
On H1 timeframe we are in the clear bearish chartist pattern, that is a bearish rising wedge descendent's triangle, and the movement is continue to shorting this par, Also, if we compare the latest movement using the arrow, in H4 timeframe there is an example, we take a conclusion that Sterling is leadign to the $1.25 USD and that is a drop so near of 300 pips that we could to find down it for our benefit.
So, I put a short position and then, we expect that Sterling Pound activated my sell order at $1.2807 USD with a SL at $1.2858, that is 51 pips of SL and my take profit is $1.2512 USD, that mean 280 pips.
So, guys in conclusion, this par it's one to take benefit this week, while the Sterling is goes to weakness, that trend is not to wait to stop the trend, also, in H4 timeframe I use the Elliot Wave model, that we are in the formation of the Elliot Wave # 3
Guys, if this idea is support for you, give me a like and I consider that all technical analysis it's work for you!!!
On H1 timeframe we are in the clear bearish chartist pattern, that is a bearish rising wedge descendent's triangle, and the movement is continue to shorting this par, Also, if we compare the latest movement using the arrow, in H4 timeframe there is an example, we take a conclusion that Sterling is leadign to the $1.25 USD and that is a drop so near of 300 pips that we could to find down it for our benefit.
So, I put a short position and then, we expect that Sterling Pound activated my sell order at $1.2807 USD with a SL at $1.2858, that is 51 pips of SL and my take profit is $1.2512 USD, that mean 280 pips.
So, guys in conclusion, this par it's one to take benefit this week, while the Sterling is goes to weakness, that trend is not to wait to stop the trend, also, in H4 timeframe I use the Elliot Wave model, that we are in the formation of the Elliot Wave # 3
Guys, if this idea is support for you, give me a like and I consider that all technical analysis it's work for you!!!
Trade closed: stop reached:
As learningedge, I believe that we were in this bullish riisng wedge, but as practice and experience and humblelity, it's an error that I make it for not analyze better in H1 timeframe, this was a bullish rising wedge and not the descendent triangle.
Also, as experience, I like to trade Forex based in fundamentals, because Forex has movement with fundamentals and not much with technical analysis. So, for Sunday I will not trade Forex until for Monday to read it fundamentals and then, trade Forex.
As learningedge, I believe that we were in this bullish riisng wedge, but as practice and experience and humblelity, it's an error that I make it for not analyze better in H1 timeframe, this was a bullish rising wedge and not the descendent triangle.
Also, as experience, I like to trade Forex based in fundamentals, because Forex has movement with fundamentals and not much with technical analysis. So, for Sunday I will not trade Forex until for Monday to read it fundamentals and then, trade Forex.