Short the Pound ozzie with me and lets make some bread. This is a typical pattern used by banks where they will grab liquidity to the upside faking out many, triggering stop lossess, buy stops etc, then they will reverse price back down. Take incremental profits from 20 pips, then every 10 pips from there. Your welcome.
Gold briefly broke outside of the weekly descending channel. IMO called is still overall bullish and zooming further out confirms this. Especially with current events at play and talks of a 1.9T Stimulus proposed by the Biden team in the mix. DESPITE this, i believe we still have some downside to go based on the technicals. Revisiting the 1790s level is certainly...
This is a typical liquidity run move, produced by big banks, usually to collect all the buy orders and and trigger a few stop losses before making its move in the opposite direction. I call this move "the bank run".
I will be shorting the Cable once it rejects the weekly and/or 4 hour Long term trend line and I will search for a precise entry using the DOUBLE EMA 50 period. once a candle from the 1 hour clearly closes below the 50 DEMA, I will go short for 30 - 50 PIPS
