Our strategy on this pair is to trade the 4th leg of the predicted bat pattern on the 4 hr hour chart. We are targeting the green zone at the bottom of the 4th leg. FX:GBPUSD
Attending the theory of trend lines, and using fibonacci tool and my theory of key levels Monthly, we find a possible purchase to capture a few pips, after that enter a sale that takes the price to the line of accelerated trend, the lines Orange are resistances or supports in Teporalidad Daily, the yellow lines are fibos in temparalidad of 1 hour, the white lines...
Last week, the UK’s Prime Minister May lost in Parliament trying to pass her Brexit deal, then in a head-spinning act of cognitive dissonance Parliament passed a bill asserting they did not want a no-deal Brexit. Then, quite predictably, they passed another bill telling May to go to the EU and ask for an extension. While the politics of this are a bit intrinsicly...
Currency markets are convinced that Brexit won't happen after the most recent voting in Parliament. Parliament doesn't like May's deal. Fair enough. But Parliament also doesn't want no deal. Okay then so what exactly is it that Parliament wants? We are increasingly approaching a situation where the UK accidentally crashes out the EU with no deal set in place....
Looking for further upside movement on this pair as the daily confirmation of candle closure.
Confirmation on the 4HR for further upside movement also an overall bullish momentum on this pair for this week.
Short idea; Daily rejection at the top of the channel.
The candle must close below previous resistance @ 1.31900 for a continuation of the downtrend.
Entry below 23.6 fib @ 1.3200
TP1 @ 0.5 fib, 1.30100
TP2 @ 61.8 fib, 1.2900
Price action at TP1 will be monitored to see if TP2 is the new target, expect a pullback. Should it break at TP2, I would imagine it...
The graph above contains two interesting technical patterns
1. Doji-A Doji is a name for a session in which the candlestick for security has an open and close that are virtually equal and are often components in patterns, What Does a Doji tell us? Most of the time it comes as a sign of reversal And that's what happened
2. Three White Soldiers - is a bullish...
Price has respected and bounced off key resistance on the 4H, 1D timeframe charts, we can see price making a move down to our green box as this is where next key support is, this is also where our TP will be placed.
See how simple we keep our charts? It can be done... even by brain dead zombies ;p
We know nobody can be correct 100% of the time in the markets,...
GBPUSD - my bias is still bullish on this pair. If bulls managed to close above the 1.3000 level, I'll be looking to go long here. If the price closes below that level, I'll wait for next
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