GBPUSD - Price at Top of Down-Channel - Trend Continuation
Here is the summary of the indications:
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Hi Traders!
The setup of this idea is that the big Trend of this pair is a downwards.
As it has deep Pullbacks, it is a Downward Channel.
Now we are in a Retracement Move, which is also at the top of the longterm Down-Channel.
The idea is that if the market breaks below the Channel and simultaneously the Support,
the next target would be the Support @ 1.36700.
Potential Entries could be selling directly the Breakout, the retest of the Breakout or even before the Breakout.
If you have any questions, something to add or anther point of view, let us know in the comment!
Thanks and successful Trading :-)!
- Market in a longterm Down-Channel
- Market now in Retracement Channel
- Market now at the Top of the longterm Down-Channel
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Hi Traders!
The setup of this idea is that the big Trend of this pair is a downwards.
As it has deep Pullbacks, it is a Downward Channel.
Now we are in a Retracement Move, which is also at the top of the longterm Down-Channel.
The idea is that if the market breaks below the Channel and simultaneously the Support,
the next target would be the Support @ 1.36700.
Potential Entries could be selling directly the Breakout, the retest of the Breakout or even before the Breakout.
If you have any questions, something to add or anther point of view, let us know in the comment!
Thanks and successful Trading :-)!
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