DislikedHey guys (: just want to share my thoughts about the GBPUSD.
1.7000 is a very strong PPZ. Look at the picture.
Look on the weekly...there is a pin bar forming. Well that pin bar is nice, but not an A pin bar IMO cause it's nose is quite short if we compare it to the surrounding bars...ummm...
The thing that jumped out at me though was that 50.00 ret level that Jim always mentioned....Ignored
DislikedGBP/USD weekly PB looks like a poodle to me. I almost fell off my chair laughing when James posted the poodle versus pitbull chart.I will pass on this one myself.
ScottIgnored
Nice work on showing the Pros:
Strong Monthly PPZ level; 1.7000.
Fib 61.8% confluence.
50% retracement confluence.
Off recent Highs.
Sure the size could be bigger but its closely equal to or greater then the size of recent bars in the last few weeks.
Top of consolidation of the recent weeks.
This last one is where it gets a little tricky. The traffic in the consolidation. How strong the break is (momentum) and how Price behaves at these levels in blue (zoomed in chart) will be key for me.
I do like this one.
![](https://resources.faireconomy.media/images/emojis/64/1f44d.png?v=14.0)
Jim
Indicators show the past. Price Action "Indicates" the future.