FX:GBPUSD   British Pound/U.S. Dollar
318 11 5
Strong bullish bounce on Friday formed a long legged doji candle, that hints renewed bullish pressure. We might see another attempt toward the latest high near 1.6600, this is not a bullish signal yet, as i said "Ill be looking for longs" that doesn't mean am bullish and will buy as the week starts, it does mean that I will be looking for intraday bullish setups for quick long positions. If no bullish setup present it self, i wont buy :)
If you dont want to miss any trade and see all the trades live, fully transparent. No bullshit like some others. Join my FREE channel here https://telegram.me/technician_forex_trades
Its bullish but not yet a time to long. Correction is underway, 1.61 level looks ripe for the moment. Even if there is any meat to the upside, its likely going to be just a few bones. Also UK yearly inflation and retail sales this week is important to keep an eye on. And daily charts show a massive divergence that has been building up since the past couple of weeks.
Reply
Technician TOP justatrader
2 years ago
Thanks you justatrader, I need to explain my self more i think, first for all, i am not bullish, and not bearish neither. check my post weekly analysis at
GBPUSD: Reading Candles
when I trade, i try not to forecast market, only trade it.

I was precise when I wrote "Ill be looking for longs", that means ill be looking for short term and intraday bullish setups over the lower time intervals for confirmation..
Reply
AlexandreFF
2 years ago
Excuse me for not understanding, but why isn't this doji bearish? after previous bullish candles isn't the doji saying there's is indecision ? So this should be bearish shouldn't it ? Could you explain me please ?
Reply
Tarek AlexandreFF
2 years ago
You should not use candles stick patterns on its own, you should combine it with a previous resistance level to add more confirmation of a bullish outlook, and also this doji does close above the previous candle close or at the same level which increase the bullish probabilities.
Any One agree?
Reply
Tarek Tarek
2 years ago
Sorry I meant a ""bearish outlook"" instead "bullish outlook"
Reply
justatrader PRO AlexandreFF
2 years ago
I don't think a doji is bullish or bearish unless the candle after that closes bullish or bearish. As tarek said, taking cues just from candlestick patterns doesn't provide reliable trade signals, unless of course it (doji) forms near a key support or resistance levels. A good example I can refer is EURCAD weekly, which formed a gravestone doji a week or two ago. But the candle after that was bullish enough to take out the doji's high.
Reply
Technician TOP justatrader
2 years ago
Yeah sure, its a mistake to count on only a candle, without at least waiting for confirmation. For me, i don't look at the candle following to confirm a direction, i believe its not reliable, everyone has his own way.
Reply
Technician TOP AlexandreFF
2 years ago
You are right, doji after an "uptrend" shouldn't be considered bullish, should be considered neutral. In this trade, the doji has a strong lower wick, and the price was rejected near the ascending trend line and horizontal support, then price rebounded sharply, forming a long legged doji with the lower wick longer then the upper one. So for me this looks slightly positive, but that doesn't mean am taking a long position only on this. As i mention" ill be looking for longs" i mean by that i will be looking for long setups over the lower time intervals, Sorry for not explaining my self very well.
Reply
Technician TOP AlexandreFF
2 years ago
You are right, doji after an "uptrend" shouldn't be considered bullish, should be considered neutral. In this trade, the doji has a strong lower wick, and the price was rejected near the ascending trend line and horizontal support, then price rebounded sharply, forming a long legged doji with the lower wick longer then the upper one. So for me this looks slightly positive, but that doesn't mean am taking a long position only on this. As i mention" ill be looking for longs" i mean by that i will be looking for long setups over the lower time intervals, Sorry for not explaining my self very well.
Reply
Technician TOP AlexandreFF
2 years ago
@alexandre You are right, doji after an "uptrend" shouldn't be considered bullish, should be considered neutral. In this trade, the doji has a strong lower wick, and the price was rejected near the ascending trend line and horizontal support, then price rebounded sharply, forming a long legged doji with the lower wick longer then the upper one. So for me this looks slightly positive, but that doesn't mean am taking a long position only on this. As i mention" ill be looking for longs" i mean by that i will be looking for long setups over the lower time intervals, Sorry for not explaining my self very well.
Reply
Sorry for the multiple posts, something wrong
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener 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 Billing Sign Out