Last friday price rejected the fib 0.38 mark, I will be watching LT to see what price does whether it will come down a little more and maybe hit my fib 0.618 which would be great because we can enter lower and look for some kind of pattern on LT. Right now just wait and see what price does from here.
Price has come to my fib 0,618 and at close last week friday it gave use a nice wick telling us price has been rejected. This week i will be looking at lower TF to see if i can see any patterns to confirm a change of direction. First TP would be the 100 mark and second TP -0.27 mark.
We had a impluses and we just completed the three wave corrections structure. We need price action on lower TF. No price action no trade, If price respects the fib 0.78 then i will be looking for a short to the bottom of the TL and watch how price reacts around that level. If we see a bounce I will close if its breaks then i will add another position
On higher TF the downmove has been confirmed by the by a strong bearish candle, Previously we made a flag and that was your sell setup there, Now any sort of pullback or flag you can add another position all the way down to the bottom of the trendline
This pair is at a very interesting level. We know that long term we expect a strong impluse to the downside. So if we get a flag it will drop but i we get a couple strong bullish candles i see this pair making one more move to the upside
GBPUSD is back the the top of the trendline we already had a bounce of the 0.50 fib. Momentum tells me we might have a break but again we wont know until we get a break and a treNd continuation pattern above the TL
Another thing we could get is a one more down maybe to the fib 0.618 or 0.78 and then go up
We have just had a very strong impluse on this trade and now we are getting a trend continuation pattern. I will be watching how price will react around this area my fib 0.618. First TP will be the 100% and second TP fib ext -0.27 mark