Thoughts on GBPUSD for rest of March 2016

FX:GBPUSD   British Pound / U.S. Dollar
109 0 6
Per hourly chart & 1-5 Elliot impulse waves the down trend ended on 3/24/16 (Friday), then started new uptrend. It appears per hourly chart that the 0-1 wave has been completed and the correction downward 1-2 wave which will be either an ABC correction and/or 1-5 Elliot impulse wave is still going on now. Early this coming week 1-2 wave will be completed & longest wave 2-3 most of the time upward will start. It's good to get into a trading routine, I start ,u trading session by looking at higher time frames & then keep going down to the time frame that you will be trading from. Like: 1 minute charts for 5 minute trades OR 5 minute charts for 15 minute trades, etc... (Note) The Bollinger Band indicator now shows a squeeze or tighten of price action too, before it in my opinion price action will go up.
* Noted on hourly chart is that the EMA of 10 & 30 are pretty much on top of each other, which means narrowing price action & 50 ema still above price action, but is very close to being broken. When the 50 ema if broken, this will let you know that the 1-2 wave down is done & longest upward Elliott wave 2-3 is starting afterwards. Related to bottom RSI (setting of 5- 75/25) the noted RSI trend line (pink) down has been broken, which signaled bulls or calls have control of GBPUSD             pair. The second RSI (pink) line is over price action because of current trend of RSI price action is downward or beas have control of this pair at this time. Once this RSI trend line is broken upward & price action goes above 50 on RSI indicator scale & above 50 ema on chart, it will be call or bull trading time again, for this pair.
When trading binary options, more pieces of the puzzle that you have on your side: like price action, trends, major support & resistance areas, your indicators (whichever one's your prefer)- more success you will have trading.
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