The DAX trading analysis from last time has led to some gains.
I did not trade the long timeframes, but managed to get into a few short-term trades and shared them with my students in the day trading room.
Price seems to be retracing and now is probably a good time to start looking for the worrying signs.
There was an inverted pin bar at the 16,300 level, which is a strong supply zone, as well.
I would be more interested in seeing bearish than bullish signals.
So far, it looks like the price is quietly falling down.
GBPUSD Trading Analysis 21.06.2023
Today, I am looking at another bearish candidate.
This is the GBPUSD pair.
The pair has formed a three-falling soldiers candlestick pattern, which is an early indication of a trend change.
The pattern coincides with a major supply zone, as well.
If this proves to be a fake breakout, the connotation of it might be very strong.
In other words, there might be a strong sell-out that might ensue from here.
I will be looking for a 4H pattern to confirm my initial bias.
If this happens, then there might be a chance to short this pair.
If I see some rejections around the supply zone, I might be more reluctant to enter into a short trade.
Time will show and I am keen to wait since this might be a big move!
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