DislikedUJ still strong on the monthly close above resistance. looking higher up for signs of $ weakness {image}Ignored
Can't post a chart unfortunately.
Come with me if you want to live....
1
Cable Update (GBPUSD)
- #461,641
- Jun 30, 2018 6:57pm Jun 30, 2018 6:57pm
- Joined May 2011 | Status: Get to the Chopper | 17,905 Posts
Come with me if you want to live....
- #461,643
- Jul 1, 2018 3:48pm Jul 1, 2018 3:48pm
- Joined Dec 2015 | Status: Trader | 8,751 Posts | Online Now
Here's a top-down technical perspective on GBPUSD.
The rejection candlestick formed around a support zone last week Thursday was followed up by a bullish drive on Friday. The candlestick printed on Friday covered more than 150 pips and took price action to the next minor resistance around the 1.32260 area. It will not be a surprise if bulls take control of price action this week to drive the market to the 1.34230 area, the origin of a recent major downward move on the daily time frame. It is significant to note that a descending trendline (blue) from the high of May 17, 2018 has been breached northward last Friday. However, as the candlestick formed on a Friday, we may have to wait till Monday this week for a bullish confirmation on a daily closing basis. I normally don’t trade on Monday, so I will wait for clarity of price action.
On the H4 time frame, the GBPUSD market is disposed northward. A minor ascending trendline (magenta) is emerging. A successful testing of the trendline by price action is likely to give me confidence for a bullish bias. This is more so as a descending trendline (red) from the high of April 17, 2018 is in play as resistance and the the most recent price action stopped around it. Besides, there is a minor horizontal resistance, around 1.32260, acting as a confluence. So, we may see a southward retracement first.
I may be wrong. Trade safe and prosper.
KP
The rejection candlestick formed around a support zone last week Thursday was followed up by a bullish drive on Friday. The candlestick printed on Friday covered more than 150 pips and took price action to the next minor resistance around the 1.32260 area. It will not be a surprise if bulls take control of price action this week to drive the market to the 1.34230 area, the origin of a recent major downward move on the daily time frame. It is significant to note that a descending trendline (blue) from the high of May 17, 2018 has been breached northward last Friday. However, as the candlestick formed on a Friday, we may have to wait till Monday this week for a bullish confirmation on a daily closing basis. I normally don’t trade on Monday, so I will wait for clarity of price action.
On the H4 time frame, the GBPUSD market is disposed northward. A minor ascending trendline (magenta) is emerging. A successful testing of the trendline by price action is likely to give me confidence for a bullish bias. This is more so as a descending trendline (red) from the high of April 17, 2018 is in play as resistance and the the most recent price action stopped around it. Besides, there is a minor horizontal resistance, around 1.32260, acting as a confluence. So, we may see a southward retracement first.
I may be wrong. Trade safe and prosper.
KP
Do your homework, follow the footprints of smart money
- #461,644
- Jul 1, 2018 5:56pm Jul 1, 2018 5:56pm
- Joined May 2011 | Status: Get to the Chopper | 17,905 Posts
Come with me if you want to live....
- #461,647
- Jul 1, 2018 11:44pm Jul 1, 2018 11:44pm
- | Commercial User | Joined Feb 2017 | 24,065 Posts
looking for some long..targeting 1.328-1.33 area..
and then will short from there..
and then will short from there..
just for a cup of coffee...
- #461,649
- Jul 2, 2018 2:46am Jul 2, 2018 2:46am
- | Commercial User | Joined Feb 2017 | 24,065 Posts
looking for some long..targeting 1.328-1.33 area.. and then will short from there..
sideline is better
just for a cup of coffee...
- #461,650
- Jul 2, 2018 2:50am Jul 2, 2018 2:50am
- | Joined May 2016 | Status: Trader | 2,277 Posts
{quote} bear still strong sideline is better
- #461,653
- Jul 2, 2018 3:23am Jul 2, 2018 3:23am
- | Commercial User | Joined Feb 2017 | 24,065 Posts
Also looking at 1.3140 the next level to see what reaction
just for a cup of coffee...
- #461,655
- Jul 2, 2018 3:44am Jul 2, 2018 3:44am
- | Commercial User | Joined Feb 2017 | 24,065 Posts
{quote} bull at toilet mate
just for a cup of coffee...
- #461,657
- Jul 2, 2018 4:23am Jul 2, 2018 4:23am
- Joined Dec 2017 | Status: Trader | 30,688 Posts
{quote} bull just wake up
yes yes yes
- #461,658
- Jul 2, 2018 4:46am Jul 2, 2018 4:46am
- | Commercial User | Joined Feb 2017 | 24,065 Posts
{quote} Right there with you {image}
still sideline for now
but will adds some long if price going at 1.310
till then hot black coffee mate
️
just for a cup of coffee...
- #461,660
- Edited 7:21am Jul 2, 2018 5:19am | Edited 7:21am
- | Commercial User | Joined Feb 2017 | 24,065 Posts
Down trendline resistance lets see if Pivot will stay support
cabel seem dump big now
only watching
just for a cup of coffee...