Entered a short position on GBPUSD with a small risk of 16 pips and 55 pips of rewards 3.4 RATIO. ๐
Confirmation:
1. Broken Support in the 4HR TF.
2. Staying below both 9/21 EMAs showing sellers aggression.
3. Closing below all 4HR EMA Ribbon which has acted as support November 4th but just now broke it.
4. Numerous rejections at 1hr resistance @1.33800. Showing sellers are still attempting which is good.
Note: Risked around 0.5% Due to a small stop loss but good risk to reward. I am believing GU is counter trending until London session begins until the continuation to the downside.
Confirmation:
1. Broken Support in the 4HR TF.
2. Staying below both 9/21 EMAs showing sellers aggression.
3. Closing below all 4HR EMA Ribbon which has acted as support November 4th but just now broke it.
4. Numerous rejections at 1hr resistance @1.33800. Showing sellers are still attempting which is good.
Note: Risked around 0.5% Due to a small stop loss but good risk to reward. I am believing GU is counter trending until London session begins until the continuation to the downside.