where will it go from this no man's land
gbpaud is in the middle like a no man's land
there is a weekly trendline coming from the lower side and on the upperside is the weekly resistance marked as yellow box in green lines. now these two points are the hotzones for trades, but to reach there it can take some time. so, what we shall do untill then.
right know the market is consalidating between 200 ema and a minor support marked as pink . you can see that i have highlight there. we have two scenirios which can play out. first is a fake breakout to the upside which closes inside the box whith bearish body, in this case we can go short and set our targets at the trendline.
the other is we breakout of the range and close above the 200 ema with strong bullish candle which have a very small wick on the upperside of the body ot no wick at all. if that occurs we can go long on the retest of the zone or 200 ema on 4 hour timeframe
i will post all timeframes and update as further development of market
there is a weekly trendline coming from the lower side and on the upperside is the weekly resistance marked as yellow box in green lines. now these two points are the hotzones for trades, but to reach there it can take some time. so, what we shall do untill then.
right know the market is consalidating between 200 ema and a minor support marked as pink . you can see that i have highlight there. we have two scenirios which can play out. first is a fake breakout to the upside which closes inside the box whith bearish body, in this case we can go short and set our targets at the trendline.
the other is we breakout of the range and close above the 200 ema with strong bullish candle which have a very small wick on the upperside of the body ot no wick at all. if that occurs we can go long on the retest of the zone or 200 ema on 4 hour timeframe
i will post all timeframes and update as further development of market
Comment:
Comment:
whach for higher high and higher low to go long
and if we make a lower low here then wait for lower high to go short
and if we make a lower low here then wait for lower high to go short