GBPUSD break below Mondays Low and channel confluence was a very nice bit of price action, currently sitting beneath EQ of
Mondays range that has shown itself to be a clear S/R level could be in for a decent short to target inefficiencies and swing lows.
In this scenarion a tight stop loss can be used as we do not want to see GBPUSD back above the pivot here, in which case bias
should probably switch.
Due to a close invalidation level, this trade could offer very high risk to reward, although after having already had a significant
run down I would not be going in full position. Also, DXY has had a big run.
GL from The TRADRZ Team
Mondays range that has shown itself to be a clear S/R level could be in for a decent short to target inefficiencies and swing lows.
In this scenarion a tight stop loss can be used as we do not want to see GBPUSD back above the pivot here, in which case bias
should probably switch.
Due to a close invalidation level, this trade could offer very high risk to reward, although after having already had a significant
run down I would not be going in full position. Also, DXY has had a big run.
GL from The TRADRZ Team
Note
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.