GBP.USD setting up for 216 pip break out: GU Fib Jump Imminentu
High time frame Fib series which control of GU since 2018.
You already know the massive Brexit/Elections volatility.
Break Out traders should be watching these levels keenly.
Which way will it break? Does it really matter?
When will it break? Set TV "Alerts" to warn you.
Why 216 pips? Notice the precise energy bands.
My method maps the "Pulse" of an asset.
The bands always cause price reactions.
What happens at each one can be telling.
Per this smaller TF fib plot below, it is primed for a drop:
You already know the massive Brexit/Elections volatility.
Break Out traders should be watching these levels keenly.
Which way will it break? Does it really matter?
When will it break? Set TV "Alerts" to warn you.
Why 216 pips? Notice the precise energy bands.
My method maps the "Pulse" of an asset.
The bands always cause price reactions.
What happens at each one can be telling.
Per this smaller TF fib plot below, it is primed for a drop:
Comment:
Rut Roh!
Just walked off the cliff
hopefully a retest and then plunge ....
.
Just walked off the cliff
.
Comment:
Retested.
Sprang back up to the fib for retest and will hopefully pull away now
.
Sprang back up to the fib for retest and will hopefully pull away now
.
Comment:
Wow, what a whipsaw.
So we had a fake break below, then a spike blasting upwards (based on election developments)
.
Zoom IN (3 min) and a possible fib of this move
This implies that some traders expected (or knew?) the election outcome and started buying will before the spike upon public announcement.
.
Zoom OUT (1 hr) with the new Fib in place, we have two possible target zones and a new support
Thus tow possible path ways for next advance (if there is to be one).
Break below 1.335/36 would mean higher targets my not be achievable.
Bullish sign would be a clean bounce off the 3.326 around $1.34xx.
== Summary ==
Spiked for about 430 pips to the upside, and still looks able to reach the upside target.
Small retrace can be expected, perhaps to 1.335/36 and possible bounce to target.
.
So we had a fake break below, then a spike blasting upwards (based on election developments)
.
Zoom IN (3 min) and a possible fib of this move
.
Zoom OUT (1 hr) with the new Fib in place, we have two possible target zones and a new support
Break below 1.335/36 would mean higher targets my not be achievable.
Bullish sign would be a clean bounce off the 3.326 around $1.34xx.
== Summary ==
Spiked for about 430 pips to the upside, and still looks able to reach the upside target.
Small retrace can be expected, perhaps to 1.335/36 and possible bounce to target.
.
the Golden Ratio is my Religion
the Trading View is my Nation
the Moderator Tag is my Flag
the Trading View is my Nation
the Moderator Tag is my Flag
Just kissed the end of the cliff and retracting a bit
.