Hello traders, welcome back to my page. I hope everyone is having a good trading week so far. Lets keep it that way. 2021 starting off RIGHT YA FEEL ME!
If you are new here, consider liking this idea because it tells me you guys are messin with the content. But with out further a due, lets get it!
So as we can see, we have some weakness from the pound. This is shown by the inverted hammer on the top of this 1H formation. I have it circled in red. this tells me that the sellers have pushed price down stronger than the buyers were able to push up, a nice indication of a downward movement. We can pair this with the recent crossover of the 2 EMA's marked on my chart.
Also, during the London session, we can observe price tried to move back up but it only ended up making a lower high compared to the previous move up, which was yesterday during the day.
My chart shows the little details as well as my potential targets.
Remember to trade smart and trade safe! Precision over EVERYTHING!!!