The market traded up to the levels I mentioned earlier and was held. Shall it surpass this area with a strong bull move? Or drop to the low(s) mentioned.
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Chairman of the International Billionaires Club :nerd:
It appears to be rejected right at 6120. Get them sell orders ready. If it gets under the figure (6100) it should act as a ceiling and weight to push it down. Lets see if the bulls lose muscle. :nerd:
We should see a bounce of one of these swing levels as price attempts to go after this March 9 high on the 4 hr chart. But 6202 is the daily swing long fib. The bears may say that's it right here.
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Chairman of the International Billionaires Club :nerd:
As you can see by these four charts, price has climbed to the 6202 level as predicted, where the bears was waiting to take over and drop it to the low made on 2/11(5962). Price once again fell to the swing low of 5975 and the major down trend long (purple) fib of 5968. It appears by the 15min/1hr that this low is bringing with it a lot of buyers. If they surpass 6014 15min swing long, we may see another rise in the pound. If the bears win the breakage of this key support level, we shall see the cable touching the present swing T1 level of 5835. But I am leaning more towards the T2 level of 5750. Which is a psych level and a daily level of support made on Jan. 25th. And this will be the bears' next target. But if the bulls turn it around again, we will be back up to 6202- in no time. :nerd:
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Chairman of the International Billionaires Club :nerd:
As you can see by the yellow and aqua circles, the bulls did it again. But we aren't surprised, knowing that this was a key level of support. And we also know what high they are going after, right? Yes, you got it: 6202. print money peoples. :nerd:
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Chairman of the International Billionaires Club :nerd:
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I need vouchers so I can start a fresh thread we can respond to.
Chairman of the International Billionaires Club :nerd:
We are looking for the bulls or bears to take control. And what we are looking for for the bulls is for price to break (open above) the trendlines on the 1hr and 4hr charts. But a real confirmation would be the break of 6075 the intraday long and 15min swing pivot. You can place a buy-stop at this price. But its looking like price is going to trade down to the daily's swing support level @6045 or the intraday's short level @6037 before making its climb to the top. If the bears take over we know that they are going after that low. We will know their power by the break of the intraday short level @6037. :nerd:
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Chairman of the International Billionaires Club :nerd:
Fibonacci Trading with Bobokus
