Pound has recovered and capped at Fib 0.382 from recent fall. The last candle is like hangingman candle although not in perfect trend condition. The green engulfing candle prior than that indicates a bullish move so if you want to be safe, best entry should be around 1.39855; I will setup 2 other trades with larger lot size than this one entry at 1.39765 and 1.40259 with SL at 1.40428 in case this setup is a failure. I may move this one's SL to the same level if I'm confident the trend is going downward.
Note: trade 2 and trade 3 I may only enter trade 3 depends on the bullish momentum. I also feel most big sellers might be waiting at the near 1.4 level but that's a pure guess. GL.
Note: trade 2 and trade 3 I may only enter trade 3 depends on the bullish momentum. I also feel most big sellers might be waiting at the near 1.4 level but that's a pure guess. GL.
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The analysis above is based on daily TF..... also order panel got moved slightly earlier (order yet to be activated).
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1.39765 was entered and 50% close even now has left me a bit profit covering first trade loss. Will leave it trailing with 0 risk. If BoE don't come up with something positive tomorrow, I think the reversal is unstoppable for now.
