OUR 2 CONTENDERS FOR THE DAY
LEFT: Yesterday Cable had a 4hr bar close below monthly pivot at 4379, then bounce up. The high of that candle was 4426. Stoch is still high. So look for London to break 4426 and move up to Sunday R2 which is also the Weekly R2 at 4530.
There will be some resistance at 4518 which is last Weekly R2
Because the bounce came of the Monthly pivot, we coulc possibly hold for Monthly R1 at 4679
RIGHT: Yesterday GBPJPY dropped from Sunday R1 742 to Sunday pivot at 7221. If this 4hr bar closes up, then we'll be above Sunday, weekly and monthly pivots, yet below the day pivot. If stoch can turn up by London open, then buy at 7271
LEFT: Yesterday Cable had a 4hr bar close below monthly pivot at 4379, then bounce up. The high of that candle was 4426. Stoch is still high. So look for London to break 4426 and move up to Sunday R2 which is also the Weekly R2 at 4530.
There will be some resistance at 4518 which is last Weekly R2
Because the bounce came of the Monthly pivot, we coulc possibly hold for Monthly R1 at 4679
RIGHT: Yesterday GBPJPY dropped from Sunday R1 742 to Sunday pivot at 7221. If this 4hr bar closes up, then we'll be above Sunday, weekly and monthly pivots, yet below the day pivot. If stoch can turn up by London open, then buy at 7271
Forex, awful to watch, AWESOME to play