GBPUSD Bearish Analysis
I have opened a short position in the Potential Reversal Zone (PRZ) at around 1.3080.
Good risk/reward with stops above the PRZ and targets at 1.2950
Target has Fibonacci confluence with a 786 retracement & a 1.27 extension.
Price Action reason for entry was the strong bearish candle close below the structure level.
Entry was made and is more evident on the 1 hour chart.
Strong bearish close and a minor pullback.
Good risk/reward with stops above the PRZ and targets at 1.2950
Target has Fibonacci confluence with a 786 retracement & a 1.27 extension.
Price Action reason for entry was the strong bearish candle close below the structure level.
Entry was made and is more evident on the 1 hour chart.
Strong bearish close and a minor pullback.
Komen:
Position closed + 111 pips
Discord/Indicators:
launchpass.com/jupiter/babylonians
launchpass.com/jupiter/babylonians