Dc5

Dc5

The market being oversold (both the RSI and the Stoch), and as there was confusion over the speech given by BoE Governor Carney on Wednesday, the price action will likely rebound back to where it was before the speech which is around 1.2830. PLEASE READ THE ARTICLE ABOUT CARNEY'S CONFUSING SPEECH at; t.co

Dc5 Updated 

Few pips shy from the trend resistance at 1.26005 (green line), a long legged doji candlestick formed on the 15 min chart. After confirming with a long marubozu bearish candlestick, took my profit on the next candlestick at 1.2588 and entered a short position with a short stop order on the trend resistance at 1.26005 (stop order 1) aimed for a short shot trade at...

Dc5

By Trumps unexpected jawboning, the price spiked to 1.2575 then consolidated briefly to about 1.250. Accepting my fault and licking the wound, I decided to exit and reverse the course of my trade to long. Since the price action breached a new trend line (blue line) at 1.2493 and headed back to 1.2575 trying to reach the trend resistance at 1.26005, I an convinced...

Dc5

For those who entered a sell position at around 1.244000 and exited at around 1.241000 must have realized a profit of approx. 30 pips which is fair enough profit. But for those who are after a larger catch and stayed on the market like myself, as I have forewarned about price breaking above 1.24500, it triggered the old price channel between 1.23500~60 and...

Dc5

It seems that the old trend support at around 1.2350~60 is holding for a while that brings the price on an uphill struggle. For those who are on a bid position like myself, I may suggest to exit the position and sell at around 1.24400. However, since the present price is in the old price channel between 1.2350~60 and 1.2510~20, a bit of caution is very useful if...

Dc5 Updated 

Failing to breach the trend line at 1.26300 and the price channel (green line), not to mention also the failed attempt to break the resistance at 1.26800 to further its upside movement, I assume that this will be a start of a long path to south as its about to break the trendline support at 1.2350~40 and at the same time about to re-enter the old resistance...

Dc5

Now that 1.26000 had been breached, and a new formation of a head and shoulder pattern, we could expect for a deep reversal aiming at 1.21200 with a pause at 1.2350 and eventually going further down. BEARISH

Dc5 Updated 

If the trend line and the former resistance at 1.2350 are breached, we may expect to rise up till 1.2600 with a pause at 1.2450 and then retraces all the way down to 1.6500 timing Trump's inauguration.

Dc5

A support at 1.2360 turned resistance will force a short consolidation to sell off at least till 1.2175 , the new support with a pause at 1.2200. . . . Bearish!