Sell GBPUSD 1.39000 SL 1.39130 TP1 1.38500 TP2 1.38000
Context:
- USD favorited news catalyst for Wednesday's ADP
- New Minor Structure downtrend identified
Confluence Details:
-Trading off key area 1.39000
- H1 0.382 Fib level at 1.38980 (beginning of new trend so expecting strong downside)
- H1 20MA dynamic resistance level at 1.39000
- H1 50MA dynamic resistance level at 1.39080
- Looking for a pin bar reversal off 0.50 fib level to confirm downtrend continuation at 1.39050 + 1.39000 new resistance level
- Entry confirmed once H1 price action identified: Either bearish engulfing or some sort of 3-bar variation pattern.
Context:
- USD favorited news catalyst for Wednesday's ADP
- New Minor Structure downtrend identified
Confluence Details:
-Trading off key area 1.39000
- H1 0.382 Fib level at 1.38980 (beginning of new trend so expecting strong downside)
- H1 20MA dynamic resistance level at 1.39000
- H1 50MA dynamic resistance level at 1.39080
- Looking for a pin bar reversal off 0.50 fib level to confirm downtrend continuation at 1.39050 + 1.39000 new resistance level
- Entry confirmed once H1 price action identified: Either bearish engulfing or some sort of 3-bar variation pattern.
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.
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.