We haven't had a 4hr 5sma retrace in quite awhile. It's about 100 pips below current price. Have a great London session. My shift is over!
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Disliked1H QQE is about to cross down and my Zero Lag Stoch has already crossed down...... we're sliding..... hopefully to at least 210.Ignored
Dislikedit must go below 212.70 to go down ... and short confirmation is 211.86 otherwise its still long and we can buy from dipIgnored
DislikedCurrent price is 213.30
My 1H QQE5 is still bullish (crossed up). Price has been in a 50pip range for nearly two hours. The bulls are strong in the 213.00 area and not giving up a fight. I think any move down is a retracement and not a reversal (yet).Ignored
Dislikedit must go below 212.70 to go down ... and short confirmation is 211.86 otherwise its still long and we can buy from dipIgnored
DislikedI've got 212.40 - 212.50 for any strong moves down. We are currently 100pips away from there. I'm only (short-term) bearish because price has broken below an inner trend line. Bears need to break 213.00 for any action.Ignored
DislikedWhat's the interpretation on your daily chart Pirin ? I can see your bear channel and QQE5 is bullish on daily. What else are you trying to share?Ignored
Dislikedis that a fib?
R1 is at 212.21
What else is around there for support ?Ignored
DislikedI see this and next week as a retracement. On the weekly chart the gbp/jpy fell 2032 pips for 5 weeks in a row, and what we see now is the gbp using the markets calm to get a breath. The fact that BoE didn't cut the rates and the FED doing it with 0,75 was the trigger for it. As I see it, there are no news that would stop the rally until Wednesday, where I do expect negative forecast on the GDP, but even by neutral stance, the next rate cut by the FED will trigger the next drop. I'm only using the QQE5 with some EMA's to find the entry points, my forecast is not based entirely on it. But USA is entering a recession and there is no way that the gbp will continue growing in the long term. That's my opinion.Ignored