nmike
Short

GBP USD negative diverging double top in progress

FX:GBPUSD   British Pound/U.S. Dollar
1708 13 32
A slight variation of the Fisher -Trix System,
The FISHER-TRIX- 34ma system
. I left out the Fisher 34 so that I would have more room to show the Trix ribbon swing action & support / resistances. Trend breaks using the Trix7 work
very well and often ahead of price trend line breaks, see sample farther back on this chart. On a weekly frame GBP finished the week with a bearish candle pattern and a close below the 10ma. On daily frame we have a negative diverging double top in progress.Near term downside target is at .382 Fib. level.
snapshot
Reply
There is a pretty interesting Double Top there. I would wait for a breakout under its baseline.
Reply
@Razvan good point, thanks
Reply
The breakout below the baseline looks like it could be any time now really. I'd get ready. Perhaps later today or tomorrow.
Reply
Never seen that Trix bubble indicator. Pretty cool!
Reply
@mokcpat here's one good example of a Trix bubble, higher then normal Trix reading,RSI oversold and Trix 7 far away from the rest of the other Trix lines
snapshot
Reply
bilk29 nmike
wery gud
Reply
.....update, GBP fails to break below the .236 Fib. level, Trix 7 is now bouncing off support and RSI breaks a resistance level, likely to hit trend line resistance near term
snapshot
Reply
T6340 if break 6140
snapshot
Reply
When will it drop? I opened short @ 1.5924
Reply
nmike MOD BadSector81
.....currently we have negative momentum in price action and indicators with the RSI close to a key support level, likely to hit 1.5894 near term
snapshot
Reply
...GU found support at the .236 FIB level and at bottom of BB(34). TRIX & RSI resistances were broken to the upside and now GU is close to it's previous high. Interesting to see what happens around this level
snapshot
Reply
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out