$GBPUSD | Sell Trade H4 | Execute & Sell Limits |Technical Confluences:
- Price action is between a 50 - 61% Fibo retracement range
- Horizontal trendline coincides with the 61% Fibo retracement levels
- Price is also at a Supply Zone range
- Stochastics on the H4 is in Overbought conditions
Fundamental Confluences:
- Market is reeling with the optimism of incoming FED cuts but FED seems to feel differently based on the few FED speaker's speeches
- The riots in the UK will definitely have some economic drag on the GDP
________________________________
Will be executing my 1st sell entry into FX:GBPUSD and set Sell Limit orders as show in the charts.
Targeting to TP approximately half the position at the 38% Fibo Extension levels (in blue) and move my SL levels to B/E.
Full TP are the 61%/78% Fibo Extension levels.
Remember, DYOR.
________________________________
Boosts 🚀, Follows ✌️, Shares 🙌 & Comments ✍️ are much appreciated!
If you have any ideas or charts, do share them in the 'Comments' section below and we can discuss our perspectives to improve or strengthen our strategies.
If you want something analyzed, do drop me a DM. :D
________________________________
Disclaimer: The above suggestion is an personal opinion in general and does not constitute as investment advice. Any decisions taken based on the above suggestion is purely your own risks. DYOR.
