FX:GBPUSD   British Pound/U.S. Dollar
20 1 4
using midas channel as protection or simply price needs to stay above the MIDAS channel. From here, you can manage your trade on the 15min chart. Any positive turn of indicators can be used for entry on the 15min chart. The dot indicates the overhead resistance. Every time 15min MACD goes above zero, it should yield at least 80-100pips, anything less could mean a reversal, anything more would cascade into 1h chart.

Lastly from the above setup, I hope that price will come down again to touch MACD (black line) and then up again. Good thing is the big black candle is out of the window for daily chart ; the market can now slowly begin the process of repairing till the next jolt comes about.

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dericksim
4 months ago
Finally price has managed to stand above EMA 9. 1.3197 is the magic number. again target will be EMA27. Anyway, still have to manage my trade via 15min chart. I would not try to short unless EMA 9 on daily fails to hold.

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