Confirmation:
- We´re in a Correction of a bullish Sequence
- Support of red Trendline
- Broken blue Correctiontrendline
- Reaktion on the golden Ratio
Platinum looking good at the moment .
We just created a higher high taking the 0.5 level that we got stopped recently after breaking out of that descending channel,
Strong resistance above us the 0.786 fib level that also coincides with the resistance we found on those levels in mid January.
After breaking out from the descending wedge we got stopped at the 0.5 Fib level- 1st yellow arrow -
Some profits taken there , I was hopping we will retest back on the top of the wedge , but it seems that we are forming a bull flag,
Measure move up will be the length of the pole and that will send us straight to the 0.786 Fib level- third yellow arrow -...
Short GBPUSD looking for continued downside trending after touching resistance. A breach of resistance could signify a breakout and strategy should reverse.
Looking to SELL GBPUSD in SELL AREA and to close position in TP AREAS. (35+ PIPS)
- Enter on price action, reversal candle
- Trade Safe (Trade at your own risk)
After initially buying at 1448 I took profit 200 pips up now at the 38.2% fib resistance plus our price structure resistance.
I now see a Descending Triangle in play - go to babypips.com website to learn about it....
I have a sell order at the previous lows in anticipation for a double bottom ... if i see support again at 1446 i will buy again and await the...
