Hello trader, this week I will be focusing on pound dollar pair as the market established new high and up trend is on. Looking our chart we see that market reached important structure zone and, drawing fibs retracement, we identify nice potential reversal zone. Moreover, look at the parallel channel established by the market, as the market hits its resistance and rsi showing divergence it is perfect opportunity to sell and catch retracement before futher way up.
Target 1 based on structure/ Target 2 - support of our channel Stops above market high
also, please look linked idea - on four hour chart market also established bearish abcd pattern.
I just sell at 1.38140 and take profit at 1.38500.. Am i right??