Ladies and gentlemen,
Overall :
After a breakdown of the yearly range in 2016, GBPUSD is now in a bear market. But recently GBPUSD had finally breakout his triangle. Now what ?
Trade :
The price is currently overvalued, topping on a Daily 9. It should retrace to the area of the breakout and at this time, if it finds support, a (short to mid-term) bullish trade will be confirm. On Daily a nice double bottom is trying to form and this triangle on 4h could help it to realize.
Type of trade : Continuation (consolidation).
Time-frame : 4h (short-term trade).
Tell me which asset you would love me to chart !
Please comment, like, share and follow me to receive my new charts everyday !
DISCLAIMER : I'm not a financial advisor. I can't be responsible for your losses. You trade at your own risk.
Overall :
After a breakdown of the yearly range in 2016, GBPUSD is now in a bear market. But recently GBPUSD had finally breakout his triangle. Now what ?
Trade :
The price is currently overvalued, topping on a Daily 9. It should retrace to the area of the breakout and at this time, if it finds support, a (short to mid-term) bullish trade will be confirm. On Daily a nice double bottom is trying to form and this triangle on 4h could help it to realize.
Type of trade : Continuation (consolidation).
Time-frame : 4h (short-term trade).
Tell me which asset you would love me to chart !
Please comment, like, share and follow me to receive my new charts everyday !
DISCLAIMER : I'm not a financial advisor. I can't be responsible for your losses. You trade at your own risk.
Note
We made a significant pullback and now price is growing again to complete the wave 5 !Note
Price is on the support now as expected (timeframe is little wrong), price should rebound to complete wave 5.Note
For now the trade is working perfectly !Trade closed manually
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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.
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.