DislikedHi, started trading 3 months ago, demoing profitably and hopefully live next month.
looking at the gbp/usd. Overall DT on weekly ( bearish pin bar on weekly). Weekly yet to close above support.
On the daily, looks like a head and shoulders forming? Thinking of sell stop for 1.4540 or 1.4490 (I think 1.45 is key)
(Wider horizontal blue rectangels are fib confluences form narrower blue rectangles - from daily)
What you think?
EliteJets - i assume its you on t2w?Ignored
I like your cable idea and the weekly looks like a bear flag but cable has a nasty habit of going sideways for a long time, then sharply retracing to a fib level.
You could make an argument for a long also. Higher lows, an engulfing followed by an inside bar. If the inside bar breaks long it also breaks the trend line and if it then takes out the high at 1.4770 we have higher lows, a higher high and ... we are on our way up.