FX:GBPUSD   British Pound / U.S. Dollar
291 1 0
This is a clear structure on a daily basis. After the completion of the breakout from this triangle and after having reached the target that could be found by measuring the basis of that triangle it is only normal that a correction will follow. Especially when that move mentioned before has taken the price to the last high from April/May 2012. The Question is: 'How far will this correction go and where will it be save to jump on the train again?' To find more clues for this I drew Fibo-Retracements from the last high and from the beginning of this last down channel . If all the Fibo's will not stop the price on a reasonable level then I would expect that the last trendline (green) should serve for a nice entry on the long side. It is still - on this timeframe - to early to tell and to early - for me - to take a position. Nevertheless, I do have a 'buystop' sitting at 1.6325 in the market. Watch lower levels for better buylimits!
Followed.
Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out