GBPUSD is losing its bullish characterOleg Alexandrov
1) I think it was #FOMO Buying culmination. Probably, some bullish news was released there. This is ultra-wide bar. Small retail traders can not move the currency rates so wide. Big professionals was active there. What was the result of that activity.
2) #GBP was capable to reach (and even overbought) the top line before huge up-bar 1 (green). But it was incapable to reach the top line of the channel after huge up-bar 1 (red circles).
4) The first Minor Bearish Cha Cha
5) #ND – No demand
6) Supply Pressure and breakdown the support line
7) Testing the breakdown
8) Resuming the bearish pace.
I’d like to expect the reaching of the bottom blue line.
Yes, You Can Become a Professional Chart Reader
To build success in any business, you should rely on things that really work.
In Chart Reading Method, they are three: The Law of Inequality, The Law of Supply & Demand, The Law of Effort & Result.
Download free books, to understand how can you apply the Laws and convert charts into profitable setups daily!
Enter your email to Download books
No spam is guaranteed.