GBP/USD- Daily overview
Hello everybody!
-On a daily chart, we can see that the price reached the supply area, and then the price formed a double top pattern which is a very good reversal signal.
-We can also see that the price is still in an ascending channel but we can notice that the price touched and rejected the upper trend line of the ascending channel
-If the price breaks the lower trendline of the ascending channel we can also looking for a short position on this pair because we can also see that the price formed a triangle pattern so we can wait for the breakout.
-The price also formed a shooting star pattern which is also a signal that the bulls are losing control and that the bears are gaining some power in that area.
-The Stochastic indicator is showing us the bearish regular divergence and that is also an extra confirmation to take a short position to this pair.
-Before taking action in Forex, please check the economic calendar and currency strength meter.
-WHAT DO YOU THINK ABOUT THIS SETUP?
Please let me know in the comment section!
THANKS FOR READING!
-If you have some different opinions please let me know and if you like this please hit that like button and give me support, I will appreciate every support.
-Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts. The information given is not Financial advice.
-On a daily chart, we can see that the price reached the supply area, and then the price formed a double top pattern which is a very good reversal signal.
-We can also see that the price is still in an ascending channel but we can notice that the price touched and rejected the upper trend line of the ascending channel
-If the price breaks the lower trendline of the ascending channel we can also looking for a short position on this pair because we can also see that the price formed a triangle pattern so we can wait for the breakout.
-The price also formed a shooting star pattern which is also a signal that the bulls are losing control and that the bears are gaining some power in that area.
-The Stochastic indicator is showing us the bearish regular divergence and that is also an extra confirmation to take a short position to this pair.
-Before taking action in Forex, please check the economic calendar and currency strength meter.
-WHAT DO YOU THINK ABOUT THIS SETUP?
Please let me know in the comment section!
THANKS FOR READING!
-If you have some different opinions please let me know and if you like this please hit that like button and give me support, I will appreciate every support.
-Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts. The information given is not Financial advice.
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.