GBPUSD: Bearish Momentum Post-CPI Revisions

Following Friday's CPI revisions, GBPUSD showcases a clearly defined channel, accentuated by a false breakout on the upper channel during Monday's early session. Anticipating a short trade post-breakout of the lower channel, I'll be vigilant for entry signals on lower timeframes, seeking confirmation through the following confluences:

1. Bearish Price Action
   
2. Bearish Candle Formation
   
3. High Volume Candle
   
4. Divergence between Price Action and Volume
   
5. Divergence between Price Action and Money Flow Index
   
6. Utilization of Volume Profile to pinpoint Fine-Tuned Support and Resistance for optimal Take Profit and Stop Loss Placement.
   

Trade Safe

Yorum:

probability of break out of lower channel became lower as the price went up