GBPUSD slumps at the stellar US NFP result on Friday to set the tone for a possible risk of further decline in price in the new week. In this video, I was able to identify the structure that emphasizes my bearish bias for the week.
Risk Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
Risk Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
Trade active:
We now have a retest of the neckline
Good morning
Good morning
Trade active:
I am adding one more position and the stop loss level has been adjusted accordingly.
Good afternoon
Good afternoon
Trade active:
We are still on track as long as price does not break out of the bearish trendline
Good morning
Good morning
Trade active:
We are currently witnessing a possible breakout of the bearish trendline which also shares a confluence with the neckline identified in the video. If the breakout is successful then I want to be waiting for a retest of structure with signs of a trend continuation to the upside on lower time frame to switch to a bullish bias.
Trade closed: stop reached:
With a breakout/retest of the bearish trendline (red dotted line); my perspective is shifting into a bullish momentum as 1.206000 level keeps getting rejected by the buyers since the beginning of the week
Good morning
Good morning
Trade active:
I am moving my stop loss to break even
Comment:
Trade closed: target reached
Trade smart. Trade consciously
