I am waiting for price to close below the support line before I short to the greyed area where price has been rejected before
Once price has then continued to move I will place another short to the next support line
We will need to wait for the pullback upon breakout before placing the trade
We can see from the chart that this pair has fallen from this zone a few times in the past, i am currently selling but waiting for price to break this key level before adding another sell
I believe it will come up and test resistance again before dropping
Hey guys, me again still learning forex been really analyzing the markets so any feedback is really appreciated as it helps me improve as we are in it together.
- Really looking for some action in this one. market does seem bearish so im expecting a break and retest for the area however keep in mind your long opportunity too.
- I will be looking to enter either...
Price has made its way to a huge reversal zone at 0.91500 which also lines up with the 0.61 fib level indicating it could either reverse or have a pullback at this area . As i am also expecting GBP to strengthen due to lock down measures being eased and the economy getting back on its feet
it makes sense for me to be shorting this pair at this important level....
Option 1. GREEN
Ideally we are looking for perfection and for price to hit the top of the trend line with a hover and then look to sell to the downside.
Price retraces, forms bear flag which I am happy to take, if price then hovers on the lower trend line then I will potentially also scale to take price further to the downside to the start of the...