GBPUSD is offering a Shorting Opportunity
GBPUSD is offering a good Shorting opportunity in the H4.
Price falls after been rejected with a Shooting Star by the Wedge resistance at the 1.4240 area. Rebounded from the 50EMA though with some bullish candles but, in my opinion, all of them are, at least till now, more of a corrective move.
I’m bearish bias here and will be watching how PA reacts to:
1. Aggressive move: To Short at Bearish Signal at the 1.4220/30 areas (A potential H&S or a Triple Top in progress then?);
2. Safer Entry: Wait for a Breakout from the Wedge support and to Short with Bearish Signal after a Retest.
Take note that the above set-up will be invalidated if price breaks up convincingly above the Shooting Star at 1.4240 area.
Just my HO. Any comments will be appreciated.
Price falls after been rejected with a Shooting Star by the Wedge resistance at the 1.4240 area. Rebounded from the 50EMA though with some bullish candles but, in my opinion, all of them are, at least till now, more of a corrective move.
I’m bearish bias here and will be watching how PA reacts to:
1. Aggressive move: To Short at Bearish Signal at the 1.4220/30 areas (A potential H&S or a Triple Top in progress then?);
2. Safer Entry: Wait for a Breakout from the Wedge support and to Short with Bearish Signal after a Retest.
Take note that the above set-up will be invalidated if price breaks up convincingly above the Shooting Star at 1.4240 area.
Just my HO. Any comments will be appreciated.
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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.