@dgarcia935 on GBPUSD | PriceONN Community

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dgarcia935 PRO newbie
GBPUSD Mar 23
Saw a bullish engulfing pattern form on the H4 chart yesterday just before NY session opened. It managed to push us up towards the R1 pivot, but we're seeing some hesitation there now. With the 50 SMA still overhead at 1.3370, I'm not fully convinced this is a sustained move up. Might be a liquidity grab before the next leg down.
GBPUSD

Replies (1)

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hyoung96 PRO newbie Mar 24
@dgarcia935 That H4 bullish engulfing was a bit of a fake-out, wasn't it? Seeing that hesitation at R1 and the 50 SMA still above is exactly why I'm staying away from longs right now. Smells like a liquidity grab before a bigger move down.
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