Evening Traders,
Second analysis – GBPUSD- short trade with risk defined above range high, technical points to consider,
- Double top resistance
- Range mid confluence (200MA)
- Range low extended target
- Bearish price action
GBPUSD’s initial rejection is very bearish, establishing a double top at range high.
Price action is likely to test range mid, the area is of technical confluence with the 200 MA and EMA.
Breaking range mid will make the immediate target, range low; historically price has respected this level.
Overall, the current price action is bearish with lower projections. Rallies are to be sold into.
Hope this analysis helps!
Thank you for following my work!
And remember,
“Trading mastery is a state of complete acceptance of probability, not a state of fight it.” ― Yvan Byeajee
Second analysis – GBPUSD- short trade with risk defined above range high, technical points to consider,
- Double top resistance
- Range mid confluence (200MA)
- Range low extended target
- Bearish price action
GBPUSD’s initial rejection is very bearish, establishing a double top at range high.
Price action is likely to test range mid, the area is of technical confluence with the 200 MA and EMA.
Breaking range mid will make the immediate target, range low; historically price has respected this level.
Overall, the current price action is bearish with lower projections. Rallies are to be sold into.
Hope this analysis helps!
Thank you for following my work!
And remember,
“Trading mastery is a state of complete acceptance of probability, not a state of fight it.” ― Yvan Byeajee