FX:GBPUSD   British Pound / U.S. Dollar
hopefully goes as planned.
comments and/or suggestions highly appreciated :)
Trade active: my bias is a rather neutral now - we are in but i feel a little uneasy, ive taken my profit from the movement its made. it's been a good week so ill call it a day. Have a lovely weekend everyone :)
OH but dont just take my word for it - for all i know, price may even go up. plan your trade and trade your plan... :)

Comments

so as the price is going down, you don't this the above analysis is valid no more?
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@Dude77, Thats what i believe yes. What i failed to do before was to look on a higher time frame to look at the overall trend direction. If you check the weekly time frame you'll see its actually in a down trend. And this weeks high is lower than the previous weeks high (the same with the weeks swing low). in addition there is a double top also on shown on the weekly time frame. Despite what i've discovered i may have been right initially and price does go up (i guess we'll have to find out when market opens lol). On a lower tf however, rsi shows that its actually oversold so what we might see is a pull back and then maybe it will go further
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Believe the up trend has finished, now it’s looking to form a bearish trend.
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@jmacdonald93 Yeah after further analysis i think its just gonna push down more - i think the daily support may just be a point for a pull back then we’ll go down further. Thanks🙏🏽
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Absolutely on the daily support but just broke through, wait for a retest and maybe a good sell! Let’s see next week
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