GBPUSD DOWNTREND TECHNICAL ANALYSIS 8 - 12 OCTOBER 2018

UPTREND
PREVIOUS SWING LOW - 1.29218
PREVIOUS SWING HIGH - 1.32992
BROKEN STRUCTURE - 1.29188
PREDICTION: 1.32690 - 1.34007
NEXT RESISTANCE - 1.32905
LOOK FOR SHORT ENTRY REASONS ON SHORTER TIME FRAME FROM 1.15221 - 1.16220
ONLY PLACE TRADE IF RISK TO REWARD IS <1
STOP LOSS: .236 RETRACEMENT
TAKE PROFIT 1: .618 RETRACEMENT
TAKE PROFIT 2: .786 RETRACEMENT
TAKE PROFIT 3: 1.32905
KEEP IN MIND MARKET IS APPROACHING OVERBOUGHT ON 4 HOUR CHART. ON DAILY MACD AND RSI ARE DIVERGING BULLISH
PLACE STOP LOSS TO BREAK EVEN WHEN PRICE HIT'S FIRST TARGET
LOOK OUT FOR ECONOMICAL EVENT'S
THIS IS JUST MY ANALYSIS IT COULD BE RIGHT OR WRONG.
PLEASE LEAVE POSITIVE FEEDBACK, CRITICISM, YOUR THOUGHT'S AND YOUR IDEAS
lIKE IF YOU FOUND THIS USEFUL AND FOLLOW ME FOR MORE IDEAS- I WOULD REALLY APPRECIATE IT
GOOD LUCK, TRADERS