If price keeps falling today, we will have a change in trend. Else if it climbs back up high enough the bullish trend is intact.
This is my forecast for the month ahead. It will be updated everyday during asian session for any changes. Do scroll down to look at the comments for updates. I'll be using Daily charts from now on, cos that's the TF that I actually use.
If my charts are not clear, you can pm me anytime to ask any questions, I am more than willing to help. And if you want to look at my positions, you can click my etoro link from my profile, you will see my trading positions under portfolio.
Nothing is 100% in trading, it is a game of probabilities. Be nimble when trading, never have a strong bias. I can turn from bullish to bearish in a day if price action tells me so.
This is my forecast for the month ahead. It will be updated everyday during asian session for any changes. Do scroll down to look at the comments for updates. I'll be using Daily charts from now on, cos that's the TF that I actually use.
If my charts are not clear, you can pm me anytime to ask any questions, I am more than willing to help. And if you want to look at my positions, you can click my etoro link from my profile, you will see my trading positions under portfolio.
Nothing is 100% in trading, it is a game of probabilities. Be nimble when trading, never have a strong bias. I can turn from bullish to bearish in a day if price action tells me so.
Comment:
Wednesday Feb 1
Wrong chart above.
If we see a rejection at 1.6660 today, we will see a down trend tomorrow.
Wrong chart above.
If we see a rejection at 1.6660 today, we will see a down trend tomorrow.
Comment:
Thursday Feb 2
Generally still bullish but today I favor more bearish moves for GBP.
Generally still bullish but today I favor more bearish moves for GBP.
Comment:
Friday Feb 3
Wait for a pullback to go short at resistances.
Wait for a pullback to go short at resistances.
If today's upmove closed downwards or rejected by the 1.6400 resistance, we will see a fall tomorrow. Else it has to climb back above 1.6470 to keep the bullish momentum.