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Waiting for a roll back to 50% pin and sell

Waiting for a roll back to 50% pin and sell | 30 July 2015

30 July 2015, GBP/USD

Daily chart an excellent pinbar after a false break! Waiting for a roll back to 50% pin (1.5638) and sell expecting a decline under the last bottom (1.5466)

Waiting for a roll back to 50% pin and sell

Hourly chart: Bulls managed to hold an ascending structure, not allowing to make the first crossing down! Nevertheless, we shall come from the day setup and wait for the end of the upward swing around 1.5633.

Waiting for a roll back to 50% pin and sell

Scenarios: growth to 1.5633 and 1.5587 at the beginning of decline, with an eye on 1.5466 and lower (in the medium-term)

Trading solutions:

1) sell from1.5633 with Stop orders set at 1.5693 and TP set at 1.5400.

Aleksey Panasenko
FreshForex Analyst
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