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.
Original bullish target reached! Take profit before FED! It still has chance to imrpove, but close to Weekly Kijun, daily second trendline resistance Price action may start to consolidate. Will look to re-buy in a dip.
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