Hey guys,
this morning during my analysis i've spotted this nice opportunity to sell the pound against the dollar. Not often it occurs to see such a good confluence. So i thought i could share with you this outlook. As you can see above on the pound price is testing a daily structure level (blue rectangle ) that happens to be also a psychological number and the termination point of two different AB=CD patterns, along with some fibonacci confluence .
Furthermore, you can see RSI went OVERBOUGHT and also that there's a Cypher that's been completed and it's still valid.
For all those reasons together i think it could be a nice spot in order to find shorting opportunities in form of candlestick formations like engulfings or double tops.
I'll let you know how it develops.
Feel free to comment below if you want to ask questions or share your standpoint.
See you in the next chart!
this morning during my analysis i've spotted this nice opportunity to sell the pound against the dollar. Not often it occurs to see such a good confluence. So i thought i could share with you this outlook. As you can see above on the pound price is testing a daily structure level (blue rectangle ) that happens to be also a psychological number and the termination point of two different AB=CD patterns, along with some fibonacci confluence .
Furthermore, you can see RSI went OVERBOUGHT and also that there's a Cypher that's been completed and it's still valid.
For all those reasons together i think it could be a nice spot in order to find shorting opportunities in form of candlestick formations like engulfings or double tops.
I'll let you know how it develops.
Feel free to comment below if you want to ask questions or share your standpoint.
See you in the next chart!