Hi Yorik,
I've got slightly different Trendlines than you. Have just bought GBP/USD after that tail down to the broken TL. Similar setup to 22 July 04:00 candle?? Price is going against me at the moment though...
I've got slightly different Trendlines than you. Have just bought GBP/USD after that tail down to the broken TL. Similar setup to 22 July 04:00 candle?? Price is going against me at the moment though...
DislikedEURUSD
Crossed EMA21 up, retested it and shows signs of a possible move up to SMA89. On Daily price is standing under EMA21 crossed downwards (EMA21 retest), so Daily is not 100% "for" upmove, though may "allow" it. There's no TC signal on 4H MACD - just higher bars. On 1H chart - many subsequent small "parallel" bars, MACD close to 0 - uncertainty.
My desicion: no MACD signal, uncertainty on 1H, Daily rhythm may be for downmove - no entry just now, for possible buy - wait for a TC or a false breakout down (higher bars on MACD + false breakout through EMA21).
GBPUSD
made a HL on chart and MACD yesterday, is at the lower border of an upwards channel on Daily, just under the upper border of a downwards channel on 4H; crossed SMA89 up and retested it with a hammer-like candle. on MACD - just higher bars, no bullish TC.
My desicion: price is moving up from SMA89 but no signal on MACD and possible resistance is close, so no entry - maybe, better wait for a breakout up and a retest of the broken border.
Any thoughts?Ignored