Kumowizard
Long

Bullish odds improve. Question is when and how to buy?

FX:GBPUSD   British Pound/U.S. Dollar
122 1 6
Weekly:
- Bearish Ichimoku , but no trend continuation for the last 7 weeks.
- Heikin-Ashi gave a counter bullish signal this week. Correction to Kijun 1,47 +/- is possible
- 1,48-1,50 is a strong supp/res zone.

Daily:
- Ichimoku is neutral with some bullish bias. Thin and flat Kumo reflects recent trendless market, range trading. However we have a minor bullish Senkou cross ahead (Kumo twist)
- Price attempted a triangle break yesterday but failed. Heikin-Ashi shows indecision: doji candle, haDelta down to zero. It will be important to see if haDelta can stay above zero this time.
- EWO             is in bullish territory but still within range limits.
- A break above 1, 44             could trigger further buying to 1,4650. Lower supports: 1,4250 / 1,4130

As we get closer to End of Month, this time I check the monthly chart too.

Monthly:
- Bearish Ihimoku setup, but Price is far below Kijun Sen. It should correct to get closer to equilibrium.
- Heikin-Ashi has built a possible bullish reversal signal. Second monthly candle with higher low. This candle is also an inside body doji , with both upper and lower wicks (haDelta/SMA3 cross)
- The multi month blood bath in GBP might be over for now. Retest to Tenkan (right now at 1,4850) is possible.

Strategy: I prefer to accumulate long in smaller clips on dips. I also like buying 1,46/1,50 June Call spreads when it is cheaper.


p.s.: Brexit... do u know what happens in short term if they by some reason vote 'Yes' for leaving the EU? Absolutely nothing! Why? Because the legal procedure will take minimim 6-7 YEARS to proceed! :-) Don't trade stupid news. Trade price action only.