GBPUSD - Analysis, could lead to 'Sell'
Technical - Mentor: Hoseini Finance (Iran)
As we approach the end of another trading week, signs of a potential bearish momentum are emerging in the GBPUSD market.
Key Points:
- EMA 55 uptrend indicates potential market peak.
- RSI approaching overbought zone, suggesting a potential correction.
- Triangle chart pattern hints at a price retracement.
Action:
- Monitor the chart/market closely before entering trade.
- Exercise caution and employ risk management strategy.
PS: This is my own trading strategy and backtesting results.
As we approach the end of another trading week, signs of a potential bearish momentum are emerging in the GBPUSD market.
Key Points:
- EMA 55 uptrend indicates potential market peak.
- RSI approaching overbought zone, suggesting a potential correction.
- Triangle chart pattern hints at a price retracement.
Action:
- Monitor the chart/market closely before entering trade.
- Exercise caution and employ risk management strategy.
PS: This is my own trading strategy and backtesting results.
Nota
Close of London session on Friday: 'Short entry possible but waiting for confirmation'.I'm seeing a potential short entry, but I'll wait until Monday's London session open for confirmation. The price action is showing signs of weakness, RSI approaching overbought zone and I'm looking for a break near dynamic line to trigger the entry.
Nota
Market sentiment is 'Short'.Source: myfxbook.com/community/outlook
I'm initiating a 'Short' position during the London trading session's opening at 8:00 GMT.
Nota
Please follow the most recent post on the idea above:
Penafian
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