Around 7am GBPUSD will move long from the Asian range around 25 pips. By 9am, it will spike short to test the 7th of septs Low of the day. Around 2pm GMT it will spike Long back into the previous mondays Asian range.
The exact same patterns play out on the variety of time charts: what is important to note is, they effect the performance of the lower charts.
If the Monthly chart requires a third level drop, the weekly chart is highly likely to reset its 3 level plan to conform to monthly orders, and so on for the ever varying lower time charts.
Having a general layout of the...
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My prediction for GBPUSD's completion of a third level of drop was correct. I predicted a bullish push from thursdays NYC session or for friday, possibly monday.
Thursday ended with consolidation back into "week beginning Mondays" initial Asian Range. Short sellers are likely trapped at thursdays 'low of the day', with all indications suggesting a full level of...
The 4 hour chart and 1 hour chart need to complete a 3rd level of drop before the £ goes bullish. I expect a false move bullish out of the Asian Session, followed by a bearish true move through the London and nyc session. The £ to rise either Thursday NYC session or Friday. But Maybe The Market Makers see Monday as a more suitable time to go Bullish.
