{quote} Hi J, Re Gbpusd, I'm not sure about any '...bearish direction..' Last month's 4249 Hi is @ a HH on Mthly, either there or higher when the fractal forms (could and will likely be there, re PA so far this mth with the close of July's candle.) Although, yes last month's candle was bearish. Re Wkly - it's still in an uptrend although we have a L now @ 3731 under the last HL @ 3799, but it is still in an uptrend. On Dly now we have 2 x HL's and what will be a HH if price goes above the H @ 3910. 4hr/1hr are rangy with a current bullish tone.
My opinion will always be based on the long-term bear setup from the TOP. The bear idea formed last year and only starting to materialize recently. With such a long time in planning and waiting, a lot of traders are likely to have given up by now.....well, NOT ME
. On the other hand, if we both agree that last month's candle is bearish, I'd like to think the Monthly candle is more powerful than the rest? That being said, It will be a full-blown bear the moment we start using 1.37146 as a major RES. So until then, it's only a matter of time for me.
Let's see how it all pans out.
Keep well
. Only 100% trades will execute. cant try this.
