Whats up guys, first off, i want to apologize for the idea yesterday, i totally f'd up on that one, but i promise ill do better this time!
So its Friday!! The trading week has come to a close almost. Lets finish strong and start the week off right on Monday.
Lets take a look a GBP:
From my analysis, I see that price broke the level of support we used for a buy yesterday, (this is the same support that i though we were going to break yesterday), this tells me that its very likely for price to trend downwards now, until we hit maybe the blue line at the bottom of my markup. the only thing that makes me cautious is the fact that its Friday, and from my experience, price tends to range in a specific area on Friday or it can absolutely demolish a certain setup.
Pair this with the oversold RSI on virtually all timeframes up to 1H and you have a recipe for a potential reversal that came out of nowhere. Nontheless, dont let this scare you away, rather let it make you exercise caution and be sure to use CORRECT RISK MANAGEMENT
My bias for today is going to be short but if we see a strong push up, we can expect a reversal back to a higher support
Trade safe, trade smart, and trade precise yall, ill be back next week!!!
So its Friday!! The trading week has come to a close almost. Lets finish strong and start the week off right on Monday.
Lets take a look a GBP:
From my analysis, I see that price broke the level of support we used for a buy yesterday, (this is the same support that i though we were going to break yesterday), this tells me that its very likely for price to trend downwards now, until we hit maybe the blue line at the bottom of my markup. the only thing that makes me cautious is the fact that its Friday, and from my experience, price tends to range in a specific area on Friday or it can absolutely demolish a certain setup.
Pair this with the oversold RSI on virtually all timeframes up to 1H and you have a recipe for a potential reversal that came out of nowhere. Nontheless, dont let this scare you away, rather let it make you exercise caution and be sure to use CORRECT RISK MANAGEMENT
My bias for today is going to be short but if we see a strong push up, we can expect a reversal back to a higher support
Trade safe, trade smart, and trade precise yall, ill be back next week!!!