First I strongly recommend you to look at my last idea which I relate it in here in order not to take the wrong path.
1. We're now at bottom of channel.
2. We have 2 AB=CD moves. ( pink and blue lines )
3. We need a retracement after this sharp dump. But remember ! It's just a retracement.
So if you wanna go long just scalp and put your stop some pips below the last LL.
I expect e minor bounce up from here to the middle or upper line of channel.
If it goes up it's just a ret and the total trend is DOWN. So be careful with your longs and manage
GBPUSD
them well.
Be safe.
1. We're now at bottom of channel.
2. We have 2 AB=CD moves. ( pink and blue lines )
3. We need a retracement after this sharp dump. But remember ! It's just a retracement.
So if you wanna go long just scalp and put your stop some pips below the last LL.
I expect e minor bounce up from here to the middle or upper line of channel.
If it goes up it's just a ret and the total trend is DOWN. So be careful with your longs and manage
GBPUSD
them well. Be safe.
