Kumowizard
Long

GBPUSD - Long? Maybe yes, maybe not, maybe now, maybe later

FX:GBPUSD   Pound Sterling/U.S. Dollar
91 6 2
I am tempted to buy, but I am still not too confident if it is really the time to enter long, or wait for more signals.
Let's make a checklist.

Daily: A wedge is developing. First question: which trendline is "more valid"? Should we ignore the 19/Sept wick, or should we match the trendline with that? Anyway, I drew two trendlines . The first one stays together with th             important horizontal key level now, and Price is flirting with it ard             1,6110. Will it break? That's the second question. It has some chance, since MACD has a massive positive divergence, and Slow Stoch is slowly moving up too. Still we'll have the third question in place: what will happen at the second bearish trendline which is right at Kijun Sen now at 1,6195?

Ichimoku is still bearish , maybe some early warning signal is that Chikou lost a lot from open space ahead, but in fact no real bullish or reversal signals here.

4 Hrs: Trades above 100 WMA . Looks as a chance for a Bullish Kumo break. But Slow Stoch is defenately too high, so short term it is a bit overbought, probably not the best entry point now for a large long position. ADX is super low with a DMI impossible to read.
It looks rather bullish , maybe time to slowly buy some, but I'd wait for a pull back to the Kumo or Kijun Sen to buy a real unit size.

Did I help you to decide? I don't think so :-D. So please share your views, feel free to comment, or show what your trading system or model suggests.
thanks for this post
Reply
Kumowizard PRO manijeh.kazemi.33
Welcome. May you have any questions on this or on any other instruments I am happy to share my views and to discuss.
+1 Reply
With today's price action I am happy to stay long with the small I have, and looking to buy more on dips. Hopefuly a counter trend will be able to firm.
Reply
Good rr short imho
Reply
you're right. wait until a clear break of 6130 for TP1 6200.
Reply
Yes, likely 1,6200-30 are will be difficult to push through first, but from now it rather looks good enough to buy it on dips.
Reply
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
Việt Nam
日本
한국
简体
繁體
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 Priority Support Contact Support Ideas Published Followers Following Private Messages Chat Sign Out