GBPUSD H4 pullback before going short.

FX:GBPUSD   英镑/美元
Currently looking for selling opportunity and patiently waiting for my entries to be hit.
Reasons to enter:
1. EMA 21 and 50 just crossed over, and am expecting further downside.
2. Price was rejected at both 21 and 50 ema beautifully.
3. A series of lower highs and lower lows are forming. Am expecting the price to pull back to the 38.2% or 50% fibo levels (entry for shorts)
4. Stoch is currently showing an oversold situation, am expecting some retracement to the trendline/ema21 before going further downside.
5. Bearish is still in control based on weekly, daily and h4 TF. Don't go for any buy now.

Trade safe all ;)
交易开始: +90 pips on my sell limit and +50 pips on my entry at 38.2%. Down GU, down!
交易结束:到达止损: Trade became invalid, SL was hit. About -160 pips
Don´t Worry men. there is going to be others that you will win....
aaronlu97 AndresDiaz
@AndresDiaz, Thanks brother for your words! Yeah. Gonna continue to work hard and learn from every mistake ;)
I have held my shorts with stops at the 50% of Friday range. If it goes above I am calling it quits on cable for now. But 50 on Thursdays range sent us south nicely. I did ok on that. But I am with your analysis. Its contrary to what Retail are gunning for. SSI indicator is showing Retail to be getting more stronggly Bullish, and thats when the purge generally happens. So lets see. We wrong or we right...
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