Latest forex analysis - page 20
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hi
GBP will going down again I think,strong support at 1.5262 was break .
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Forex Indicators Collection
Short term (hourly) falling wedge support line breached...longterm(daily) lower fib level breached!! Market in selling trend as bears regain control.No bounce off short term support so long position was not entered.Falling wedge to channel to megaphone.
Will continue to scan the market for falling wedge reversal.Megaphone for now.Correct counteraction is take short position after breakout to the downside.
After daily lower fibonacci level breached market traded lower.Channel down is the short term pattern.Long term pattern is still megaphone.Short term level of support is 1.4840 we will sell short if price penetrates this level in next session.Will go long on a bounce, but the market has not given any indication of a reversal at the present time.I will be scanning the market for reversal setup and tsd will know first.
Market pulls back from sharp decline
On the daily outlook we have been in a channel down pattern with no break out indicating that this selling trend will continue on the long term perspective.Short buying period this week then selling will resume as from the daily chart attached it looks like the trend is sharp and strong....retracement buying short term...then sharp selling resuming at later date.
Short term buy period
Ascending triangle say's buy period into a channel.Buy when price breaks short term resistence line.Daily evidence supports this pullback after a sharp sell off last week.Pattern has taken shape so buy setup is on the horizon.
gbp/usd15min plays
15 min chart plays where,how,when and why.Diffrent trade setups that have formed into patterns and completed with a breakout.The way to trade the setup is to go long or short when price breaks out of the formation.