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We're watching for a possible long term sell position.

We're watching for a possible long term sell position. | 13 October 2021

13 October 2021, GBP/USD

We're sellers towards the lower trendline.

Wave Analysis:
During the previous trading day, the British pound closed as a bearish pin bar. However, ealier today, the price pulled back to the upperside and is not around the previous day;s hiughest high. This is the ideal place to consider a possible long term sell from. The idea is to watch for low risk sell positions on lesser timeframes like the 15 minuites chart and on the 5 minutes chart. On the flipside, should the pricde close above the previous day's highest high, then this wil be a ideal place to consider a possible long term buy position.
Trade Recommendations:
We're watching for a possible long term sell position.

Bob Stan
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