That means some difficulties on daily rise must be expected.
Its daily tf may be still trap inthe current price range
as shown in the chart post earlier.
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DislikedIts a very interesting set up on the candle front at the mo,break out after consolidation then shooting star.Ive applied the cloud to both my views and see the weekly is still in down trend (or no trade zone?)that very shooting star poking up through and of course Peter has already pointed out the daily and the support the cloud has given in recent times.
I'm not keen on the shooting star as to its location and timing a close under 50% of break out candle will I think confirm further set backs but agree possible drop then resumption...Ignored
DislikedGbpUsd daily shows 2 days of correction with around 400 pips.
Long term Uptrend is still intact.
But please be prepare for some possible further short-term correction ( downtrend further)
as the TD Sequential daily count is at number 2 shown in chart below. Its not a good day to trade.
Usually, number 3 would be more aggressive. Hust and Be prepare for some actions.Ignored
DislikedShooting star has high probability for reversal, it is sure popular.
Its also a cause for concern, and its impact is seen here already.
However, shooting star is not a major reversal sign.
So its just like TD Setup phase,(not major reversal).
The major reserval is TD Setup plus TD Countdown phase, then we should
expect a major reversal.
ie. TD Setup+ TD Countdown= TD Sequential = Expect Major Time frame Reversal.
** If however, what is expected to happened, doesn't happen.Then something
[b]major on the opposite is brewing.(...Ignored
DislikedThe pound itself has surprised me a little as I thought $ would be the driver and is challenging the rising TL ,could be retest (2) for confirmation as before ,need jobs numbers to be good ,most UK numbers have been good recently so it is possible...Ignored
DislikedHow interesting ,so generally major reversal after
ie. TD Setup+ TD Countdown= TD Sequential = Expect Major Time
The count down can be tricky to do lots of indicators though not accurate from what I understand.I really like Demark I must admit it was one of the first strats I ever found out about tho some time since I studied.I think after my holiday I will spend a bit of time brushing up.Ignored
DislikedYes 3 crows on the daily ,whats next ?the last 3 crow type pattern had the upper wicks which made me wary but this one only thing is middle candle is not long bodied ,lots of support around 6300.No sign of bounce just yet.Ignored
DislikedYup, TD Sequential is an very fine tool. Its not only tricky it can seen as freaky... Bloomberg suggest not to trade on TD setups phase but upon on completion a full phase( TDSetup +Countdown). But how many traders have that kind of patience, of not trading in one month (waiting for completion TD Seq).
Perhaps TD Combo is also good to consider.Its much faster than TD Seq in the countdown phase. I use it too.
Both TD Seq and TD Combo would be useless, UNless you know the many fine rules of these two tools.
Good luck to you!Ignored