Pound correction, short term selling opportunity
The pound has dropped almost 4% from the peak of 1.35119 to the current price of 1.29818.
Before one gets too depressed over the plunge and decides to throw in the kitchen sink to short down this pair, please note that there are 3 levels of support that it has to break down. These support can turn the price upwards once more.
The selling candles seem to be have eased a little after 5 consecutive of sell down. I will be monitoring the price action before initiating a buy position.
Trade safely.
Before one gets too depressed over the plunge and decides to throw in the kitchen sink to short down this pair, please note that there are 3 levels of support that it has to break down. These support can turn the price upwards once more.
The selling candles seem to be have eased a little after 5 consecutive of sell down. I will be monitoring the price action before initiating a buy position.
Trade safely.
Note
praise lordcongrats to those who followed
Note
Praise Lord. we are up by more than 100 pips profits now. Congrats to those who followed.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.