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GU BIAS: IT'S A SELL COUNTINUATIONHello there, What is happening today in the cable market? Nothing much! It's just that, currently, the cable is selling strong. In the H4 timeframe, we have seen that the price has pulled back, respecting and rejecting the 23.6 fib level. If the current candle closes to form a bearish engulfing candlestick pattern, then we are good to sell It right away. Why should you sell the cable now? The strong trendline has been broken and the price is now below the 50 and 20 moving averages. This shows us that the momentum is in favor of the bears. Stop loss: 1.2238 First Take profit: 1.2138 Second take profit: 1.1942 Entry: market Shalom.
Short
by OraclePips
1
GBPUSD @ Crispy Potato 10/03/22 FORECAST FOR WEEK 1 MARCH 2022 IS = 50/50 (Based on day and week misalignment) COMBINED FORECAST FOR MARCH 2022 = BEAR (Based on week and month alignment) DAYS WEEK 2 OF MARCH FORECAST WAS = NO ASSESSMENT PROBABILITY OF DAYS FOR WEEK 3 MARCH = BEAR This week 2 of march opened and immediately broke the sideways support line. This currency has a high probability of a long term bear rally WEEK WEEK 2 OF MARCH FORECAST WAS = NO ASSESSMENT PROBABILITY FOR WEEK 3 MARCH = BEAR Week 2 broke clear of the previous resistance/support line around 1.33. A solid bear candle, little to no tails. Volume substantial. The OBV has a nice downward trend. MONTH FORECAST IN JAN FOR FEB = BEAR = ACCURATE FORECAST IN FEB FOR MARCH = BEAR GBPUSD is in trend sideways range, it is a sizeable range. Current the trend has turned from its high of 1.41 and now trending toward the 1.21 range. The bear candles for Jan and Feb support the bear continuation. Volume for Feb is higher than Jan, it supports a bear continuation. The OBV is in alignment with the candles
Short
by eatmycrispypotato