GBP/USD Short Trading Opportunity
1. The price is below Trend Magic Indicator.
2. US Dollar Index DXY yesterday broke the level and the uptrend continues.
3. RSI indicates more downtrend power.
4. Retail trader data shows 60% of traders are net-long. Strong contrarian short signal.
SL - above the Trend Magic Indicator line
TP1 - on the 200-SMA
TP2 - 1.2320
Keep It Simple and Always Trade With the Trend!
Please, Support Our Work with Like & Comment! Thank You!
1. The price is below Trend Magic Indicator.
2. US Dollar Index DXY yesterday broke the level and the uptrend continues.
3. RSI indicates more downtrend power.
4. Retail trader data shows 60% of traders are net-long. Strong contrarian short signal.
SL - above the Trend Magic Indicator line
TP1 - on the 200-SMA
TP2 - 1.2320
Keep It Simple and Always Trade With the Trend!
Please, Support Our Work with Like & Comment! Thank You!
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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.
Related publications
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.