Hi Alcastro,
Here is my take on the GBP. Actually we have a similar situation as Euro. We have a descending triangle (yellow dashed line) on the 4 although it's not as clean as the one on Tamaras's chart a few post's back. The difference with this one? We have more pips that might be snatched on the counter if it breaks to the long side. With the right signal, I would take this long and try to grab a handfull of pips although it could go all the way to the 89 SMA toward the magenta arrow before it heads down. There are 150 pips between the price and the 89 SMA. This one is kind iffy and if anyone comments they would be appreciated.
Jim
Here is my take on the GBP. Actually we have a similar situation as Euro. We have a descending triangle (yellow dashed line) on the 4 although it's not as clean as the one on Tamaras's chart a few post's back. The difference with this one? We have more pips that might be snatched on the counter if it breaks to the long side. With the right signal, I would take this long and try to grab a handfull of pips although it could go all the way to the 89 SMA toward the magenta arrow before it heads down. There are 150 pips between the price and the 89 SMA. This one is kind iffy and if anyone comments they would be appreciated.
Jim
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