Recently i always ask my self with another few question.
Did dollar will start the bearish trend after end of wave C ?
is it this is the effect after 700b bailout from Obama?
I assuming this pattern is head and shoulder that means this is one of the reversal signal in GBPUSD daily timeframe,however the retracement still didnt reach 61.8 or 50% but according to pattern and price action the bearish will coming.
In weekly timeframe the top candlestick formation in retracement perform a "shooting star" this is a good signal for reversal,another subject is channeling in weekly also, price was already peek and play around the resistance channel.
i believe GBPUSD will make big move in sooner possible week.
For today my advise is selling mode. just sell and beware with breakout trap. control your emotion and money management ops dont forget your stop loss :). Confident with your trading system..
happy trading happy weekend. ca alip mim bot caboott
Regards
Muhamad Yaqin Mhd Nor
Technical Market Analyst.
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