FX:GBPUSD   British Pound/U.S. Dollar
359 6 29
Starting this week, I will be publishing a new chart for this currency on a daily basis (unless the market does not change). So please remember that this chart is usually valid for 1 single day (most of the time). I therefore urge you to look for the latest charts

Good luck
Comment: OK everyone

We have hit the critical level and it might seem to you like we bounced of off it but I recommend you now micro manage this trade and exit at trade even or only with little profit

Good luck
On the daily we are almost at the end of a symmetrical triangle (starting Feb 29th).

symmetrical triangle ending
Reply
Very nice post.

If I were trading the daily I would not hesitate to respect the lower border and buy from there expecting price to go up (KS is giving me a hint).
Another strategy would be to buy the 26 candle breakout either way

But your chart shows why we are in such undecided territory on the lower timeframes. A fact that we can see on H1 by the closeness of all the ichi elements and the price

Thank you again
Reply
Hi, so you think that tomorrow the rate will drop into the buy zone from its current position? Thanks
Reply
Ichimoku_Trader StevenMilward
Hi

Well that would be nice. Although we are trying to establish an upward move, the move is still weak, thus it should retrace deeply before continuing up.
If it takes off with good momentum before reaching the buy zone, think about taking the breakout

Good luck
Reply
StevenMilward Ichimoku_Trader
Hi
Thanks for the reply. I am still learning.
I have drawn horizontal trend lines, one of which intersects just under the current position. I thought it might bounce up to the next trend line I had drawn at the top of your target, but i'm not sure this is right so i will follow your example. Thanks
Reply
Ichimoku_Trader StevenMilward
send me your drawing in private chat
Reply
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