GBPUSD JOURNAL FIRST WEEK OF OCTOBER

Hi pips hunter, i'm glad you all made a profitable setup last week.
I'm using fibo line to get price pattern range area (reversal / continuous), I find out that the price is on reversal range. H1 shows there's a reversal pattern ( QM ) at SNR. The price haven't break the resistant line (QM head) yet.

If the price react with the parallel channel , price may change to flag pattern as the price will continue upward. Also, if the price break the resistant which held QM pattern, this setup may fail.

Current market trend is downtrend.

Transaction en cours:

QM Level failed as the price break.

Commentaire:

I will look for long setup.