GBPUSD SELL
Although a confusing chart, a lot is going on. The yellow highlighted leg is in a current uptrend. It is approaching a Supply Zone formed by a Pin Bar. That same Supply Zone is on the 0.618 retracement of the red leg.
Within the uptrend, coming close to current market a Bullish Penant is formed. So we can expect some more price shooting up a bit before hitting entry, although there is a possibility that it may go into the red for a while.
Take profit is placed near a Demand Zone on the Daily Chart. Also a retracement of 0.618 of the yellow leg.
Within the uptrend, coming close to current market a Bullish Penant is formed. So we can expect some more price shooting up a bit before hitting entry, although there is a possibility that it may go into the red for a while.
Take profit is placed near a Demand Zone on the Daily Chart. Also a retracement of 0.618 of the yellow leg.
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