Based on our Super Forex Launcher System, we have a sell signal both on the D1 and H4 time frame. Although the setup is not 100% perfect, it’s good enough for us to spring into action for this counter trend strategy. And the Super Forex Launcher Indicators are pointing that there might be some move towards the south for GBPUSD.
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The above is the D1 time frame and with the hint of 2 pin bars, the bears might just jump into action for the coming weeks. We also zoomed into the H4 time frame to just take a look at how it might look and this is what we found.
When we looked at the H4 time frame, we also have a strong sell signal. Price has been consolidating for the past 10 sessions and a breakout can happen anytime now. Of course, we won’t know if it’s towards the north or south. We will just stick to the breakout to the south for this trade.
- Sell Stop Order: 1.30090
- Stop Loss: 1.31200
- Take Profit: 1.29350
For now, we will just have to be patient and wait for our price to be triggered. If there’s no trigger, it just means that the bears did not step in to take charge and there’s no harm. We did not get into position. Good luck in this trade. Let us know in the comment below if you have questions.
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