". There is still a possibility of temporary retracement to the suggested resistance line (1.7338).
if so, traders can set orders based on Price Action and expect to reach short-term targets."
. GBPCAD is in a downtrend, and the continuation of the downtrend is expected.
. The price is above the 21-Day WEMA, which...
EURGBP has been making a really long descending correction and it's time we breakout of this correction and move up! GBP is weak this week so this would push EURGBP higher.
Watch for the wedge to break and a bull flag to form.
Goodluck and trade safe!
Looking for a 3rd touch of this ascending channel/wedge & rejection of the outer trend line to enter a short position. If this does not happen or we miss it we will look for the break and re test of the pattern which would be the safer entry anyway
Entry details are shown on the chart.
We are working the 15M time frame on this strategy.
We're only looking for the green line which is take profit target.
White line is entry and purple line is stop loss.
Trade history can be seen below this trade idea too for full transparency.
Previous trade which was covered in the idea below earlier on in the week can...
There is a Trading Signal to Sell in GBPUSD Currency Pair.
Traders can open their Sell Trades NOW
⬇️Sell now or Sell on 1.3795
⭕️SL @ 1.385
🔵TP1 @ 1.366
🔵TP2 @ 1.3565
🔵TP3 @ 1.3425
- Ascending channel
- Following the 4H EMA
- Looking for rejection previous resistance and the support line of the channel for bullish confirmation
Will wait for bullish confluence among indicators (currently not in our favor) before entry, to further increase trade probability.
- The UK unlocking on Monday 19th could see a boost in the...
Easy clean set up. Bearish on high TFs scaling down towards lower TFs to find more entries, I feel the trend is still bearish and will continue short until the third touch of the trend line.
I'm waiting for the retracement to see how price reacts around that zone.