tradingmatter
Short

GBPUSD NOT GOING FOR NEW HIGH

FX:GBPUSD   British Pound/U.S. Dollar
40 2 0
DATE:20/04/2014

RENKO CHART:
Double top forming

CANDLESTICK

Bearish gravestone doji on Thursday is ominous, considering the strong resistance zone
The next day is a down day below the INTERNAL FIB LINE (IFL), warning sign number 2
On the MOMENTUM chart, bearish divergence has formed, warning sign number 3.

CONCLUSION
Seems like the GBP is not making a new high after all, at least not for this week.

You should have been sticking to your original idea.
Reply
motleifaul motleifaul
Never mind. This happens. I think it's agood method to combine Renko with trad. candles.
Reply
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