SHORT on GBPUSD (need more confirmation)
Weekly chart, price was moving towards 200 EMA but it was pushed down.
Daily chart, we can see a false breakout and price went downward. Retested the major resistance then pushed down, and rested at confluence area of minor support and TL 1. The last candle as we can see is a doji but it still closed above the 8 EMA. I would like to see price break the TL 1 and close under 8 EMA and breaks the minor support to enter short on this pair.
First target will be at confluence area of 23,6 retracement(major support), TL 2 and 200 EMA
BUT, if price breaks above major resistance and weekly 200 EMA (which I dont want that to happen) then I believe it will make a higher high and continue its overall bullish trend towards -27.2 retracement and will possibly turn into a bullish cypher pattern setup.
Daily chart, we can see a false breakout and price went downward. Retested the major resistance then pushed down, and rested at confluence area of minor support and TL 1. The last candle as we can see is a doji but it still closed above the 8 EMA. I would like to see price break the TL 1 and close under 8 EMA and breaks the minor support to enter short on this pair.
First target will be at confluence area of 23,6 retracement(major support), TL 2 and 200 EMA
BUT, if price breaks above major resistance and weekly 200 EMA (which I dont want that to happen) then I believe it will make a higher high and continue its overall bullish trend towards -27.2 retracement and will possibly turn into a bullish cypher pattern setup.
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