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Gbpusdsell

GBP/USD is too risky for trading, waiting for confirmationstarting with the monthly time frame we are in a clear downtrend and this trend has been broken. so we expect that the price will continue going up. the double bottom formation is completed and we expect that the price will pull back to test the neck of the "W" formation and then going up. that aligns with the string area in the monthly time frame that is treated as a strong support and resistance area, so we are expecting the price will reject it and going down. weekly time frame shows the rejection for the monthly area. the daily chart we are in a strong uptrend and this trend treat the price as support and resistance. so this is too risky right now for trading GBPUSD because we are in a sensitive area. using COT report that shows us how hedge funds and big banks are doing with the currencies, shows they are interested in shorting GBP more than buying it. so we should be careful and drow another small uptrend and waiting for a breakout of it with rejection for the strong monthly area and that will low the risk for our trading. if the price breaks the monthly area and closes above it, then we look for buying opportunities. becareful...
Short
by UnknownUnicorn9076755
1604 4H PLAN GBPUSD about to make grand super 5th wave to1.354Hello traders, This is Vera from channel ABC signal. What is PoundDOLLAR showing us on 4h chart now. Please don’t forget to support me with LIKES so I have more motives to post. You can also comments down there or have private chat with me on tradingview to let me know your thoughts. Let’s go back to check our ideas on Pound this week. GBPUSD: Idea on gbpusd sent out on 14th two days ago was trying to buy at the double bottom with price moving crossing average band on 4h chart. But it went really slowly with so many price overlapping above middle band. Usually, price after such overlapping situation, a strong candlestick will give us a clear direction to follow. Last idea we set out stop loss lower than recent low and hope price would rally up to test blue resistance zone where it was test 5 times. But GBPUSD now turn down to cross middle average band again. So we decide to close our last trade with only 10 pips profit. It was 50 pips floating profit before. Here is the plan. Considering the small channel here is broken now on 4h chart, we expect it will very soon to break the support level and will test all support down there with a new ABC wave. Check Risk to reward ratio like this and decide which plan you like . 1st : open sell now with RR>5 2ND open sell after it breaking support 0 level and retest with potential RR>3 Good luck Please don’t forget to support me with LIKES so I have more motives to post. You can also comments down there or have private chat with me on tradingview to let me know your thoughts. LESS IS MORE!
Short
by FUNTRADER-Vera