Wait for a possible retest before going long. Has broken the descending TL on daily/weekly closure, so could potentially be calling for a long. However, on the weekly basis it still has not broken the previous high, so be careful.
- GBP economy not so great
- Market has started to become bearish, however could still move bullish if it is only retracing
Will enter on break and retest of 4HR support, or retracement and retest on bearish TL.
Price has broken ascending TL, has retested and has started going down. Will be looking for a possible 2nd entry. The first short entry listed will be a normal entry, second short trade put on the chart is an entry where the stop hunting could go to. Price may not even come back to the wanted area as it has already retested and started moving down.