Last week GBPUSD was great
this week I will wait for a short entry to continue and maybe get closer to complete the flag pattern formed b4 year ended.
1.Evidence of a SHS also there so more bearish signal.
2.MA 200, MA100, MA 50, MA 21 have lined up also as bearish signal
3.Major Time frame support and Resistance levels are concentrated in one area.
Monthly 1.2234 -/+
Weekly 1.2775 -/+
Daily 1.2163 -/+
H4 1.2156 -/+
So Let call 1.2156 - 1.2234 HOT ZONE THis zone as u can see because of massive influence has created Bullish and bearish pin bar.
So I wait I want a retracement to 1.2420 (Daily Resistance ) That would give me a chance to get in a position to lower low. This would be the Best risk vs reward
If price was rejected @ Monthly Resistance (also lined up with MA 20) I will enter a short @ the break.
For Now I will look for possible low risk position in lower time frame
this week I will wait for a short entry to continue and maybe get closer to complete the flag pattern formed b4 year ended.
1.Evidence of a SHS also there so more bearish signal.
2.MA 200, MA100, MA 50, MA 21 have lined up also as bearish signal
3.Major Time frame support and Resistance levels are concentrated in one area.
Monthly 1.2234 -/+
Weekly 1.2775 -/+
Daily 1.2163 -/+
H4 1.2156 -/+
So Let call 1.2156 - 1.2234 HOT ZONE THis zone as u can see because of massive influence has created Bullish and bearish pin bar.
So I wait I want a retracement to 1.2420 (Daily Resistance ) That would give me a chance to get in a position to lower low. This would be the Best risk vs reward
If price was rejected @ Monthly Resistance (also lined up with MA 20) I will enter a short @ the break.
For Now I will look for possible low risk position in lower time frame
