Signal Notes: (1) => Price jumped over the bear ML (red line). I like this! This confirmed a valid ML. (2) => Price failed to bull over the bull ML (blue line). (3) => If bear ML was valid, the price should test the ML at (3). Support Indicators: RSI14: Divergence. Stoch14: Over buy. P/S: This chart was inspired from chart of Timing is key @
We just ran into some resistance at 1.548, which was a prior support area. Also, we have a bearish wedge with RSI divergence. Finally, we are at the .786 fib level of the last area and have a crab pattern that has completed as well. Keep in mind we have also not officially retouched that major broken trendline on the daily. I am going to stick to the trend here...
price making higher highs which is confirming my bias that GBP is stronger than USD at the moment. just had a break of structure so i reckon price will advance further testing resistance level at 1.55046
After a strong bull from lower PL @(1), the price pull back below the ML @(2), then correct @(3). All of these seem to form a H&S pattern. Supported indicators: 1/ Price close under EMA 200 2/ RSI makes a lower high. I refer to go short to 1.51000 Welome any comment! :)
It's a technical short of GBPUSD. We are still in a bearish trend. Fundamentals are great: British economy expanded 3 percent year-on-year in Q3, inflation rate increased slightly to 1.3 percent and unemployment steady at 6%. We will see how it works.
Chart: Manual System based on Elliott Waves and Fibonacci. Aqua line is Main Pivot. Status: We are still in the trait. Waiting for the first partial target :-). The "Eyes" show last checked status Comment: Normally i trade on Metatrader 4, i am trying to convert to TradingView so Signals are only illustrative till i have convertet the templates from Metatrader...
Corrective ABC can be completed here, i am taking a short here, at 100% extension with a SL above 1.6304 that is the 61.8% retracement of the 1.6521 - 1.5952 decline. I set my first target (1/2 position) at 1.6090 area, final target is 1.5930 area BOE in 15 mins lets see..
GBPUSD. Ascending triangle with a bullish trend + a double bottom