GBPUSD Bearish Rejection Forms on 4 Hour – Sell

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gbpusd h4 rejection

A nice bearish rejection candle has formed on the GBPUSD 4 hour time frame.

This setup is aligned with the dominant weakness of this market, which is very visible on the daily chart. We’ve be watching for sell signals to form after pullbacks to provide bearish trade opportunities to ‘sell high’ within the down trend.

We can see the bearish rejection did form after the market retraced, and created a new swing high. The thick bearish body looks nice, especially when viewed against that recent intra-day bull run we had.

The Battle Station indicator picked up the signal nicely, sending out alerts to war room members’ apple or android devices.

Looking forward to seeing how this one turns out.

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The Forex Guy is an educational Forex trading blog run by Dale Woods who has been a passionate retail Forex trader for over 6 years. Dale trades the Forex market exclusively with price action based methodologies, believing price action trading to be one of the powerful approaches used the market today, and really is the core foundation of any good trading system. Dale also strongly believes in keeping charts clean and keeping things simple, logical and uncomplicated. By making trading decisions straight off the raw price action data, you can ‘bypass’ unnecessary variables like exotic indicators, trading robots or magical pivot levels. Dale enforces the idea that there is hardly any edge trading news and economic data releases and much prefers to make trading decisions straight from the candlestick themselves. ‘The Forex Guy’ is dedicated to providing knowledge to serious and passionate traders who want to learn the art of price action trading, positive geared money management and how to psychologically condition themselves to become a professional trader.

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