GBP/USD – Temporary Shorting from Resistance to Support
Alright traders, let’s break down the GBP/USD 4-hour chart and identify a potential sell setup from the nearest resistance to the nearest support.
On this chart, we can see that GBP/USD is experiencing bearish momentum, as indicated by the price trading below the 21 EMA. The recent price action shows a clear rejection at the nearest resistance level of 1.29303. Given this rejection, we can anticipate a potential move towards the nearest support level at 1.28172.
Here's the plan:
Entry: Look for a sell entry at the current price around 1.2895 or after a slight retracement closer to the 1.29303 resistance level.
Stop Loss: Set the stop loss just above the recent high and the 1.29303 resistance level, around 1.2950.
Take Profit: Target the nearest support level at 1.28172.
This setup takes advantage of the prevailing bearish trend and aims to capitalize on the rejection at resistance, targeting a move down to the established support level.
On this chart, we can see that GBP/USD is experiencing bearish momentum, as indicated by the price trading below the 21 EMA. The recent price action shows a clear rejection at the nearest resistance level of 1.29303. Given this rejection, we can anticipate a potential move towards the nearest support level at 1.28172.
Here's the plan:
Entry: Look for a sell entry at the current price around 1.2895 or after a slight retracement closer to the 1.29303 resistance level.
Stop Loss: Set the stop loss just above the recent high and the 1.29303 resistance level, around 1.2950.
Take Profit: Target the nearest support level at 1.28172.
This setup takes advantage of the prevailing bearish trend and aims to capitalize on the rejection at resistance, targeting a move down to the established support level.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.