Wassup guys, back with another idea, this time on gbp, so what im seeing is we have been bullish for a couple of days now and it looks like price is finally loosing pressure up top. I say that because on the 15M chart, the most recent move up was much shorter than the previous move. This tells me price is loosing power and could be reversing
As i have marked, the candle in the ellipse (RED) is a reversal indicating candle, we pair this with the knowledge that price has extended its buy for quite a while. We also look to the RSI for a guide and we see that price has been overbought for quite some time; another sell signal. On top of that we know that new york session tends to reverse the direction from the london session.
Targets are marked, good luck and trade safe SNIPERS :)
FOLLOW ME TO JOIN THE TEAM OF SNIPERS AND BECOME THE BEST TRADERS WE CAN BE
Leave a like while yer here ;)
As i have marked, the candle in the ellipse (RED) is a reversal indicating candle, we pair this with the knowledge that price has extended its buy for quite a while. We also look to the RSI for a guide and we see that price has been overbought for quite some time; another sell signal. On top of that we know that new york session tends to reverse the direction from the london session.
Targets are marked, good luck and trade safe SNIPERS :)
FOLLOW ME TO JOIN THE TEAM OF SNIPERS AND BECOME THE BEST TRADERS WE CAN BE
Leave a like while yer here ;)