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I ALREADY ENTER THIS POSITION FROM @154. BUT THERE COULD STILL BE A RETEST
BEFORE FURTHER BREAKDOWN.
WHY SHOULD YOU SELL BELOW @154?
- A DOUBLE TOP GAVE BIRTH TO THIS SELLOFF; STARTED FROM @156 RESISTANCE, A MAJOR PSYCHOLOGICAL LEVEL (ZOOM OUT TO SEE!)
- A KEY SUPPORT @154 HAS BEEN BROKEN
- GBP IS GENERALLY WEAK OVER THE LAST COUPLE OF DAYS/WEEKS AND SIMILAR PRICE ACTION CAN BE SPOTTED ON GBPUSD
- YEN IS GENERALLY STRONG ACROSS BOARD; MORE OF A FUNDAMENTAL REASON...
- THE DAILY PRICE ACTION IS BUILDING SELL PRESSURE BELOW KEY MOVING AVERAGES
ALL THESE REASONS MAY NOT ABSOLUTELY GUARANTEE FURTHER STRONG SELL-OFF. BUT BE REST ASSURED THAT THEY
ARE KEY REASONS TO WANT TO GO SHORT ON THIS PAIR, IF YOU'RE CONVINCED ENOUGH, ESPECIALLY IF YOU SPOT A
RETRACEMENT BACK TO @154 OR CLOSE AND THEN A GOOD REJECTION DOWNSIDE.
NOTE: THE YELLOW LINES ARE KEY S/R PRICES/LEVELS ON DAILY AND WEEKLY TIMEFRAMES
DISCLAIMER: DO NOT TRADE WITH BORROWED MONEY OR THE ONE YOU CAN NOT AFFORD TO LOSE.
FX IS A HIGH RISK HIGH REWARD MARKET AND VERY VOLATILE
I ALREADY ENTER THIS POSITION FROM @154. BUT THERE COULD STILL BE A RETEST
BEFORE FURTHER BREAKDOWN.
WHY SHOULD YOU SELL BELOW @154?
- A DOUBLE TOP GAVE BIRTH TO THIS SELLOFF; STARTED FROM @156 RESISTANCE, A MAJOR PSYCHOLOGICAL LEVEL (ZOOM OUT TO SEE!)
- A KEY SUPPORT @154 HAS BEEN BROKEN
- GBP IS GENERALLY WEAK OVER THE LAST COUPLE OF DAYS/WEEKS AND SIMILAR PRICE ACTION CAN BE SPOTTED ON GBPUSD
- YEN IS GENERALLY STRONG ACROSS BOARD; MORE OF A FUNDAMENTAL REASON...
- THE DAILY PRICE ACTION IS BUILDING SELL PRESSURE BELOW KEY MOVING AVERAGES
ALL THESE REASONS MAY NOT ABSOLUTELY GUARANTEE FURTHER STRONG SELL-OFF. BUT BE REST ASSURED THAT THEY
ARE KEY REASONS TO WANT TO GO SHORT ON THIS PAIR, IF YOU'RE CONVINCED ENOUGH, ESPECIALLY IF YOU SPOT A
RETRACEMENT BACK TO @154 OR CLOSE AND THEN A GOOD REJECTION DOWNSIDE.
NOTE: THE YELLOW LINES ARE KEY S/R PRICES/LEVELS ON DAILY AND WEEKLY TIMEFRAMES
DISCLAIMER: DO NOT TRADE WITH BORROWED MONEY OR THE ONE YOU CAN NOT AFFORD TO LOSE.
FX IS A HIGH RISK HIGH REWARD MARKET AND VERY VOLATILE