Cable Update (GBPUSD)
Yes you always place your fibb from 2 points a key high and a key low...you always whant to make sure you are grabbing the points that most obvios since those are the levels more respected.....always look for levels that look at clear resistance and support since those are the once people will be looking at 2 draw theirs....I use multiple fibbs to get a feel for how the market is moving....I try and get to feel for what the bias is in each timeframe....thats why I never have a set bias since the market is always changing ....you see we are in the...
It fails to break R1 @ 1.4757.
Looks like tough to move more up ! Wait london session price action !
Hey what's up Sherm! Yip definitely looks like long will be the way to go according to daily. Nice set of tweezer bottoms at support with RSI divergence. I think 5309 should be the target there.
Hourly chart you can also see each reject from resistance pushes price less and less down. 1st time was 350 and then 285 - which to me shows buying pressure. Although I still would like to see a test of the intraday levels and then move higher - but I see you're trading from the daily now. Nice!
Hey whats up man....yea I see the target behing your reasoning but that would be expecting to much from this long...the market still has to many challenges in the way due to the fact we still have a bearish mindset in the market so we still need to prove itself a couple of times to get to that point....and yes we are looking at the higher closes we are getting in the daily chart as well as how we are starting to make longer wicks at the bottom of the candles in the daily showing a slowdown for the bears or at least enough for me to make a scalp...
Opsssssssssss......she has penetrated R1
There she goes again.
Hope she'll break R2 this time
What level your R2 is ?
