EURGBP Correction then short, M shape pattern

2021年2月8日

After breaking the support level, I decided to take a short position.

Because:

• Moving average 50 was steady and after breaking support there will be an impulse short position for the month.
  
  Hourly candle indicates:
  
• readjustment failed to reach support level so another impulse short happened.
  
• After second readjustment the resistance was broken so impulse long.
  
• This trend follows the M pattern so we will see if it breaks support level.
  

WHEN I WILL TAKE LONG POSITION:
Sell if impulse short does not break lowest support level get ready for a new support level(3 small green candles), before taking a long position.

Disclaimer: I'm new and only been trading for 3 days.