FX:GBPUSD   British Pound/U.S. Dollar
Market sold off heavily yesterday, thanks to BOE Governor. Market closed below key support zone 1.6700. Expect more downside towards next support zone 1.6550-1.6600. This is also the zone where the bullish cypher pattern will complete. It also coincides with 61.8% Fib retracement from the double pin swing low to the highest swing high. This looks to me like a highly confluent, high probability buy zone. Of course, subject to further confirmation via price action             in that zone, if price ever reach there.

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Drilling down into H4 timeframe, market is slowly grinding up after covering the lower end of my buy zone (PRZ) and has formed higher lows. Once market closes above the previous high, which is close to the upper end of the PRZ, I will be on alert to go long with stops below buy zone, instead of X leg.
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RSI still showing bullish divergence even as price has gone lower and into the buy zone over the past week. This pair may just be waiting for the coming Ms Yellen's speech to pop up. I am still patiently waiting for confirmation to go long.
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angrybear168 Casey_Yeo
yes agree with level but waiting for confirmation, dollar is bit strong lets see if yellen can reverse that
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TucKinetti angrybear168
dollar has seem com in down before Yellen speak, so what do u think..
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Casey_Yeo TucKinetti
No change in my thought. See my earlier post today above.
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Hi Casey, already in the Buy Zone today, u have any confirmation signal to go Long now
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Casey_Yeo TucKinetti
Nothing yet. Watching closely for price action confirmation (e.g. candlestick reversal pattern to the upside). If this happens when I'm asleep later, then too bad. :)
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Target almost hit. U short in this now?
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Casey_Yeo Sam0101
Unfortunately no. Don't get a signal that fits my trading plan to go short.
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Just to add a nice divergence on your chart
Divergnce !!
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