by: Colibritrader

Dear traders,

My latest trading analysis on Dow Jones has so far been perceived with mixed results.

Price went down initially and then an inside bar attracted a lot of buyers, who pushed the prices higher again.

Currently, the price is trading in a small range and looking to possibly break higher.

I am at the moment staying on the sidelines.

GBPUSD Trading Analysis 01.11.2021

Today, I am looking at the GBPUSD.

There was a daily bearish engulfing candle on Friday.

This will certainly bring some shorting interest.

I will be looking for a small retracement towards 1.3725 area and then depending on price action decide whether to short or not.

A good indication from price action would be an inverted pin bar or another bearish engulfing pattern.

Happy trading,

`Colibri Trader

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