Here are the 8H and 12H charts showing the 5SMA Lows being hit right around 227.75.
M2B
M2B
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DislikedCongrats Bro!!!! Looks like nothing going on still on the geppy.Ignored
DislikedYeah, I think "good ol" fib fan/lines and trend-lines are the most reliable when projecting price and determing entry/exits points. I use trendlines a lot using parallel points based off of lows in an up trend and highs in a down trend. What I end up with is basically a "waffle pattern" that end up giving support levels on lower TF and resistance on HTF (well depending on the bigger trend). Typically it correlates to a combination of S&R sma's/ema's and fib line. . . Very helpful for me gives me the big picture all in one as I scroll thru various TF's. . .
Anyway, GU, I think still has a bit lower to go. I believe you'll see it crack the 2.0100 area down to 2.0065/2.000. I would wait until then to see how it holds up before buying. Once it bottoms out I think we'll see a retreat back to 2.0300/0400 area, my 2 cents on that. . .Ignored
DislikedGive us a picture FX.
According to the TL's/channels that I've drawn we are sitting on the longstanding lower trendline which is drawn on this weekly chart. With a lot of talk about GBP devaluing in the future and the recent USD rally it could be argued that the fundamentals are in place for us to break through this important trendline. If it keeps knocking at the door, eventually the buyers are going to give in and we're looking at the important psychological support at 2.00 and beyond.
Having said that, looking at the hourly this trendline has been a profitable place to buy in the last two days where it has bounced twice. It seems like a pretty straightforward trade to enter when we see price action showing support at this level in the form of price action, and if we are wrong (it breaks the trendline) we find out quickly without too much loss, reverse the trade and make some pips.Ignored
DislikedIt needs a close above the daily pivot to have any chance of retracing up to r1/r2. . . A close above it sees 229 area again!Ignored
Dislikeda 4 hour candle close below previous lows (support) may be a perfect mouteki set up to confirm your lower targets...but until then pa shows me a nice doji acting as support... for now.... but it has been penetrated but not yet broken with a 4 hour close below...... gu has held this level as a support for the time being.... looks to me like it may be new support forming as it tried to break these levels 3 times and so far has failed..... but i'm open to either direction... my 2 cents if we get that lower candle i think i am short gu...until then i think i am neutral with bullish biasIgnored
Dislikedgracias! i'm still your biggest fan.... let me know when you start managing money i am in!Ignored
DislikedLOL!
Are you currently in any positions, if you don't mind me asking?Ignored
DislikedLOL!
Are you currently in any positions, if you don't mind me asking?Ignored
DislikedGood luck on that one. . .
I've been told dynamic fibs work best during high volume sessions like london/ny. . . Haven't really reviewed/investigated it as simple Fib fan/lines or even calculated seems to work just fine. . .Ignored
DislikedLooks like GJ has disconnected from DOW. DOW is up 100 points and JG is restingIgnored
DislikedLooks like GJ has disconnected from DOW. DOW is up 100 points and JG is restingIgnored