I am Slight Bearish. We are a decent bearish candle on weekly at the lower end starts to rebound. I am seeing 1.2920 region will be nice support. To continue bearish, that level needs to break strongly down to be a valid bear.
For any swing back, 1.303x will be resistant.
We have FED in next week and how the candle ends for the week will be very important....
setups on FX:GBPUSD are more likely showing how FX:EURUSD on Monday where it had a good monday and manage to break up the resistance. had the same setup as EU did where it created a new HH before and bounces off 61.8 fib or the demand zone that was exactly at 61.8 fib region. but this time it is only valid if the week closes above 1.30000 and the bias would be long.
I am looking at a continuation of the buy program that we have been in for the last few months.
This chart shows 2 zones that I will be looking at adding more buys, I am confident that we should see an extention to 1.3250 before a drop but I am managing my expectations and being reactive to price action as it unfolds.
News yesterday gave us the expected...
I bias Long due to the bigger trend
Find the reversal candle stick and there are 3 candlestick to find the potential to long.
However, I hit the stop loss all.
So find another reversal another.
Bad luck today. T T
A & E Double Bottom Pattern has formed on GU on the hourly chart. Wait for the price to close above the peak of the two valley's. Stay conscious of the news tomorrow as it could be a big day. A & E Double Bottoms can break the peak and then form a cup and handle pattern, when price breaks the handle it will be a strong bullish move.
-Wait for news tomorrow
-If...
There is a bearish gartley pattern forming on the hourly chart. Price is in a consolidation right now and is overextended. Therefore I believe this trade have a high probability of success.
With the recent growth on GU due to the speech, a wedge has formed on the D chart. With a long wick, expect GU to go down some in the coming days/weeks. Be smart and use good risk management. Good luck!
J
i believe this is another nice Short against the Dollar .Predicting that it will break Support so i will have a Sell Limit order @1.23740 sl@1.23918 tp@ low 1.22 levels
