QuoteDislikedAnyone know why GBP/USD weekly pinbar reversed ? In huge drawdown on my demo account. I guess there was no confulence or pivot zone....
QuoteDislikedIt hasn't failed yet. The confluences are there.
If it does fail, it tells me the uptrend is very strong.
advfntrader,
we had a few posts regarding gbp$ a few pages back. the uptrend is indeed pretty strong. that's evident in Sir jarroo's previous 2 charts (eurgbp & gbp$).
the ppz in blue (latest gbp$ jarroo chart) may possibly be the roadblock this uptrend needs & thus range thereon for some bars. & then the downmove might finally resume for that weekly PB.
I'd say the gbp strength has been relentless, to say the least.