Starting this Monday off with Gu we were left with a very clear bearish swing set up from Friday as we've come into the first session of the week we have been given a bullish impulse to the upside which has signalled to us that we now have a swing below therefore we have a confirmed bearish range we are looking for a low risk counter trend entry for then a bearish...
This is what I'm looking at for a Monday, the initial push up had retraced to below the 50% then made a push up and at the moment has not made a lower low or broke the high.
I have my two structure lines and it's when those areas have a good 1hr Candle closure that i'll start looking at this a bit deeper
1) DXY Is up - trending.
2) Mid - elections are the following week witch indicates market uncertainty, (the possible outcome will make Democrats in charge, witch will fix the tax reform problems and east trading tariffs, witch will lead to slight USD strenght ). We are betting on stronger USDollar.
3) Short signal on technicals with high volatile week ahead.
I've started to watch GBP/USD a little more closely now, as price action is starting to close in on a mid 2016 supply zone that has not been touched since that time.
Personally, i don't use a bunch of indicators on my charts, i just plot out what i believe to be strong supply and demand zones and simply wait for price to get there. Once there, I'll simply look...
there a strong downtrend, theres resistance around at 1.88427 the market tried twice to break and failed. its going no need a strong bull candle to break the resistance around at 1.88427 and continues to climb or it might go sideways for a little
