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GBP/USD – negative movement , formation “three black crows”

GBP/USD – lower top and deeper bottom, which give a signal for possible deepening of the corrective movement

THe indicators are in the negative zone, but give a signal for possible light corrective movement

Three consecutive bearish bars – “three black crows”, which give me a signal for possible new descending. This formation is good for trade, but after correction to min 50%, correction of the third bar, even 62% with purpose closer stop and good target

Therefore i will look for price around 1.5633 and stop 5 puncts above 1.5651

Although is very probably the price to went now in negative direction, i will wait my levels with purpose discipline and good ratio target/stop


 Varchev Traders


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