GBPUSD Watch for Bearish Reversal From the Top
Updated
Hello traders:
Here on GBPUSD, we can see price initially pushed up from the descending channel that I originally forecasted in the previous idea.
Price has now hit the previous swing highs, and at one point was looking like it will breakout and continue upside.
However, at the top of the price action, instead of bullish continuation on the lower time frame,
what we saw is a clean Head and Shoulder reversal, and price had a reversal impulse down.
To confirm this bearish reversal, would be nice to see the ascending channel complete, and price impulse out,
follow by LTF continuation correction to confirm the sell entry down to previous lows.
Thank you
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Comment
Dropping as expected, are you in the sell ?Comment
Got out of a sell position for +3.5% profitWill see how price react further,
Comment
Breaking the lows, watch for continuation
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