GBPUSD SHORTING ANALYSIS & TRADE IDEA
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Though Monthly is Bullish our Weekly & Daily are bearish. We also draw a trendline where the market as continuously respecting, if we see a break of structure we can expect a breakout on the trendline and continue to ride with this bearish momentum for this trade.
On the 4H timeframe this is where we take our trade. We will base our entry on the structure retest on the 0.382 of the fibonacci retracement and another entry is at the structure level, our stop loss for both is at above the structure level and our take profit is at the -0.272 of the fibo on the daily impulse.
Trade Signal
SELL
Entry: 1.34217
Take Profit: 1.32840
Stop Loss: 1.34675
SELL
Entry: 1.34505
Take Profit: 1.32840
Stop Loss: 1.35050
Good luck!
Trade wisely, please do proper money management.
~FX_SHIFTER
Though Monthly is Bullish our Weekly & Daily are bearish. We also draw a trendline where the market as continuously respecting, if we see a break of structure we can expect a breakout on the trendline and continue to ride with this bearish momentum for this trade.
On the 4H timeframe this is where we take our trade. We will base our entry on the structure retest on the 0.382 of the fibonacci retracement and another entry is at the structure level, our stop loss for both is at above the structure level and our take profit is at the -0.272 of the fibo on the daily impulse.
Trade Signal
SELL
Entry: 1.34217
Take Profit: 1.32840
Stop Loss: 1.34675
SELL
Entry: 1.34505
Take Profit: 1.32840
Stop Loss: 1.35050
Good luck!
Trade wisely, please do proper money management.
~FX_SHIFTER
Note
NOTE: We might hold this trade if we see a break of structure and breakout of the trendline.
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