Paun British / Dolar A.S.Singkat
An Update on my past post about GBP/USD regarding bias...
We are still bearish, Still in the retracing phase from the looks of it.
This is the second post related to the GBPUSD Idea.
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Break-down of current price action:
From the looks of it, last week we ended up pushing up and sweepng 2 major highs. Then an instant dip back down, leaving behind a large wick up and a lower high, therefore confirming more and more that a big downtrend is coming, which in reality is most likely just the higher timeframe pulling-back. Respecting the high is a big one, especially when the purpose of that move that made a lower high, was to also sweep liquidity, then showed its true intention by breaking the low, sharply and aggresively the next day.
It also swept our first "White Ray" and we are currently having a reaction from it. The reaction is most likely done now and we are free to move lower, especially with USD Inflation Rate that pushed GBPUSD even lower.
Expecting to move even lower for the rest of this week. and hopefully take out the next white rays.
Bias:
For most of the days my bias on GBPUSD is bearish, there could be days that we have another pull-back that sweeps liquidity and puts another lower high, just like what happened on friday of last week's. Those days its also risky to look for longs, especially if the move youre looking for is big, because again, going anti-trend is very dangerous, since price can reverse up anytime.
Conclusion/Summary:
Expect to push even lower this week, potentially take out some more white rays, and then getting another pullback that puts a second lower high, which will further confirm the bearish idea.
NOTE:
i am by no means profitable and this is not financial advice. This is just an idea, based on my experience in trading GBPUSD.
This is the second post related to the GBPUSD Idea.
-----------------------------------------------------------------------------------
Break-down of current price action:
From the looks of it, last week we ended up pushing up and sweepng 2 major highs. Then an instant dip back down, leaving behind a large wick up and a lower high, therefore confirming more and more that a big downtrend is coming, which in reality is most likely just the higher timeframe pulling-back. Respecting the high is a big one, especially when the purpose of that move that made a lower high, was to also sweep liquidity, then showed its true intention by breaking the low, sharply and aggresively the next day.
It also swept our first "White Ray" and we are currently having a reaction from it. The reaction is most likely done now and we are free to move lower, especially with USD Inflation Rate that pushed GBPUSD even lower.
Expecting to move even lower for the rest of this week. and hopefully take out the next white rays.
Bias:
For most of the days my bias on GBPUSD is bearish, there could be days that we have another pull-back that sweeps liquidity and puts another lower high, just like what happened on friday of last week's. Those days its also risky to look for longs, especially if the move youre looking for is big, because again, going anti-trend is very dangerous, since price can reverse up anytime.
Conclusion/Summary:
Expect to push even lower this week, potentially take out some more white rays, and then getting another pullback that puts a second lower high, which will further confirm the bearish idea.
NOTE:
i am by no means profitable and this is not financial advice. This is just an idea, based on my experience in trading GBPUSD.
Penafian
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