Sell opportunity on the GBPUSD?
The GBPUSD is testing the previous high on the weekly time-frame. Is this enough confirmation to sell the pair? The answer is no.
However when we drop down to the 4hr time-frame we can spot the break of structure to the preceding uptrend. Combine this with the rejection off the previous high on the weekly time-frame, it becomes enough confirmations for me to enter in for a sell trade.
What is left is to be patient for the market to pull back on the 4hr time-frame to my preferred sell zone and that will be my entry for a swing sell trade to the previous low or the last demand zone.
However when we drop down to the 4hr time-frame we can spot the break of structure to the preceding uptrend. Combine this with the rejection off the previous high on the weekly time-frame, it becomes enough confirmations for me to enter in for a sell trade.
What is left is to be patient for the market to pull back on the 4hr time-frame to my preferred sell zone and that will be my entry for a swing sell trade to the previous low or the last demand zone.