I've found an interesting graph. It looks like upward corrections ends soon, presumably next week
Attached Image (click to enlarge)
Ben
2
Cable Update (GBPUSD)
- #648,271
- Jan 13, 2022 9:35am Jan 13, 2022 9:35am
- Joined Sep 2017 | Status: Trader | 4,360 Posts
{quote} Hi, George thanks for your kind words and vice versa you too. We have just hit my 50% fib retrace at 1.37066. I am in a sell trade from there. Things are uncertain because we are 28 pips and some above the 2021 yearly open. For me, I would look more at a daily close above 1.3700 and more importantly a weekly close above 1.3700 for price to go up. Reversal Thursday or a retrace could be more certain for me, but important to drop and drop just as quick as the rise. I could be wrong, Tight lines Cheers Leon {image}
I have had my fair share of trials and tribulations and took 80 pips and some in losses, yesterday. My saving grace has been my buy trade from the 4th of January. I am in 2 more sell trades, We could well correct down from here but it remains to be seen on the weekly close. A correction is due, but when?. My logic tells me it could come from the 20th of this month. I wait and see.
On another note, Usdx is heading towards 94.50 and this level held for over a month in 2021 and was a strong barrier between bulls and bears. This level also coincides with my weekly 200 ma.
Trade safe,
Cheers,
Trade to trade another day
- #648,275
- Jan 13, 2022 9:57am Jan 13, 2022 9:57am
- Joined Jul 2010 | Status: Always manage your risk & leverage | 7,339 Posts
not euphoria follower
- #648,276
- Jan 13, 2022 10:59am Jan 13, 2022 10:59am
- Joined Dec 2017 | Status: Trader | 30,688 Posts
yes yes yes
- #648,277
- Jan 13, 2022 11:10am Jan 13, 2022 11:10am
- Joined Oct 2010 | Status: Trader | 21,478 Posts
Intraday only.
