HI GUYS,
HOPE EVERYONE READING THIS IS WELL.
PLEASE SEE ATTACHED MY ANALYSIS OF GBPUSD.
AS WE CAN SEE IN THE CHART WE HAVE THE PAIR TRADING WITHIN A CHANNEL WHICH I HAVE DRAWN OUT WITH BOXES TO DRAW RESISTANCE AND SUPPORTS AREAS.
WE CAN ALSO SEE THAT THERE IS A RESISTANCE LEVEL BEING RESPECTED WITHIN THE CHANNEL. THERE IS A FEW WAYS WE COULD LOOK FOR ENTRIES IN THE MARKET HERE:
- I WILL BE WATCHING THE CANDLESTICKS TO SEE IF WE HAVE ANY PIVOT CANDLE STICKS NEAR THE RESISTANCE LINES, IF SO I WILL ASSESS THE RSI AND THE STOCHASTIC TO SEE IF I CAN GET ANY CONFIRMATION OF A REVERSAL TO THE DOWN SIDE.
- WE COULD WAIT FOR A BREAK THROUGH THE RESISTANCE LINE/AREA WHICH IS CURRENTLY BEING RESPECTED AND FROM THERE WE COULD WAIT FOR A RETEST AND PUSH TO THE UPSIDE.
- WE COULD ALSO WAIT FOR A BREAK IN THE CHANNEL AND A PULL BACK TO RESTEST SUPPORT/RESISTANCE BUT THIS MAY TAKE A FEW DAYS TO MAKE THESE TYPES OF MOVES.
THE 4H AND DAILY CHART DON’T GIVE US MUCH INFORMATION AS TO WHAT DIRECTION WE ARE GOING IN AS IT IS CONSOLIDATING ON ALL HIGHER TIME FRAMES BUT I WILL WATCH CAREFULLY FOR THE NEXT FEW HOURLY CANDLES AND SEE IF THIS GIVES US ANY INDICATIONS AND POTENTIAL TRADES.
ANY LIKES OR COMMENTS WITH YOUR OPINIONS ARE MUCH APPREICATED.
DWFX
HOPE EVERYONE READING THIS IS WELL.
PLEASE SEE ATTACHED MY ANALYSIS OF GBPUSD.
AS WE CAN SEE IN THE CHART WE HAVE THE PAIR TRADING WITHIN A CHANNEL WHICH I HAVE DRAWN OUT WITH BOXES TO DRAW RESISTANCE AND SUPPORTS AREAS.
WE CAN ALSO SEE THAT THERE IS A RESISTANCE LEVEL BEING RESPECTED WITHIN THE CHANNEL. THERE IS A FEW WAYS WE COULD LOOK FOR ENTRIES IN THE MARKET HERE:
- I WILL BE WATCHING THE CANDLESTICKS TO SEE IF WE HAVE ANY PIVOT CANDLE STICKS NEAR THE RESISTANCE LINES, IF SO I WILL ASSESS THE RSI AND THE STOCHASTIC TO SEE IF I CAN GET ANY CONFIRMATION OF A REVERSAL TO THE DOWN SIDE.
- WE COULD WAIT FOR A BREAK THROUGH THE RESISTANCE LINE/AREA WHICH IS CURRENTLY BEING RESPECTED AND FROM THERE WE COULD WAIT FOR A RETEST AND PUSH TO THE UPSIDE.
- WE COULD ALSO WAIT FOR A BREAK IN THE CHANNEL AND A PULL BACK TO RESTEST SUPPORT/RESISTANCE BUT THIS MAY TAKE A FEW DAYS TO MAKE THESE TYPES OF MOVES.
THE 4H AND DAILY CHART DON’T GIVE US MUCH INFORMATION AS TO WHAT DIRECTION WE ARE GOING IN AS IT IS CONSOLIDATING ON ALL HIGHER TIME FRAMES BUT I WILL WATCH CAREFULLY FOR THE NEXT FEW HOURLY CANDLES AND SEE IF THIS GIVES US ANY INDICATIONS AND POTENTIAL TRADES.
ANY LIKES OR COMMENTS WITH YOUR OPINIONS ARE MUCH APPREICATED.
DWFX