DXY has reached target as it is also the previous low.
The price has reached Monthly FIB 79% and also daily TP 2.
What I want to see for January is that price create higher high and higher low forming a structure break towards the purple box.
*This is my own analysis. Anyone who wants to use my analysis in actual combat, please be cautious.
1. Price reaches previous Daily High & TP3 and then goes back down.
2. Price slowly lose it bearish momentum and fail continue to go downwards, instead it creates higher high.
3. Could set a buy stop order on 17708.50, Stop loss on previous important low.
* I would prefer to trade long than short as the H4 trend is bullish at the moment.
1. Yesterday FOMC make the price to go downwards hitting retail traders stop loss and went back up again hitting more retail trader stop loss.
2. Price went back down, which means that GBPUSD requires a deeper retracement.
3. Before London Open, price retrace upwards reaching previous high. (M15)
4. Price triggering Sell stop (M5).
1. Reach Previous high and daily TP 2
2. Price created a structure break
3. Price retrace upwards.
4. Friday there's USD PPI news
5. Could consider for a continue retracement targeting previous high for Thursday, as long as price does not fall below 1765.88
6. If price continue to retrace upwards, Friday we could expect that the news will make the price to fall.
1. Price reached FIB 79%.
2. During London Open and before New York Open, price retraced down to FIB 62% and reached previous low.
3. Could look for a buy entry with 25-30 pips stop loss
1. If price break previous high, it may continue to rise targeting Daily high.
2. Price has retrace to Daily 79% and slowly lose of uptrend momentum. If price breaks the purple line, could look for a retrace and enter.
3. During London Session, if price did not break previous high, high possibility that price could go down in New York Session.
1. Daily BOS SIG NIFICANT LOW (D1)
2. Creating 1234 and forming "5". (D1)
3. Reach 50% DAILY R etracement A rea with structure Break and lower high lower low. (H4)
4. Retrace to H4 R etracement A rea 70.5%. (H1)
5. Structure break has formed (H1)
6. Wait for a retrace to H1 R etracement A rea and look for Structure break then short
