GBPUSD Sell off analysis! Seems pretty straight forward, wouldn't you agree? Monthly resistance not broken yet, and the fibonacci lines up perfectly for a sell. There is a 50 and 200 SMA that price is below too.. but I try not to use too many indicators, as I am a straight up price action trader. Would love to get your thoughts!
Price has approached this daily level and started showing rejection, overall price is in a heavy downtrend right now so I will be entering a small sell position. I am holding a free telegram channel so drop your username or message me to be added.
the lime green is the mid section of what you might consider a consolidation box if you are a loooong term trader, however you really just trade up and down in that box there , which is also looking like a double top to be fair. Long term i am anticipating a sell , and price could reverse on that lime green line or the red line , either way im looking for a...
Sellers came in strongly as seasonal weakness set in
Look for selling to continue till Mid-September where then it gets a bit choppy before the seasonal strength period in October
Support levels are marked on the chart
ON WEEKLY SPINNING TOP HAS FORMED , on daily long legged dojis have been engulfed by the red , bear in mind end of the week slows momentum , but is it a coincidence that is it right at a strong resistance level , ALWAYS LOOK LEFT , LOOK LEFT!!! if price was to break below my support line at the opening of the markets and sustained a downward motion by tuesday or...
Price has approached weekly resistance and is rejecting, this is over a 1:4 risk/reward ratio. Clean and simple. Drop your telegram username in the comments to be added to a free group chat for 1 week's worth of free trades and analysis.