SHORT on GBPUSD H4/D1
What we've got:
After setting up a double top generally the pair is in a downward movement and broke through support @1.327.
The upward correction seems to be over soon. Bulls have let their steam off, but the bears are ready to take control again, which is extra confirmed by a bearish divergence on RSI(7).
When to enter:
First of all one could use a supportline drawn under the price to measure the slope of the correction. Once the price breaks below, closes below it could be taken as a signal that the correction is over and price turns into trend direction again.]
Secondly there is a very nice 2618 opportunity coming up, in case the correction continues to level @1.3417
I'll be patient and wait for priceaction, which will show me when to enter.
After setting up a double top generally the pair is in a downward movement and broke through support @1.327.
The upward correction seems to be over soon. Bulls have let their steam off, but the bears are ready to take control again, which is extra confirmed by a bearish divergence on RSI(7).
When to enter:
First of all one could use a supportline drawn under the price to measure the slope of the correction. Once the price breaks below, closes below it could be taken as a signal that the correction is over and price turns into trend direction again.]
Secondly there is a very nice 2618 opportunity coming up, in case the correction continues to level @1.3417
I'll be patient and wait for priceaction, which will show me when to enter.
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