This is a chart for the USDOLLAR, which has been inverted to display the nature of a symmetrical triangle
Price can be seen to enter and exit on opposite sides
Using this assumption we can say that price will rise, at it climbs to exit the triangle (inverted)
GBPUSD seen tested supports after the brexit deal and reversing from what looks like a false breakouts, But WAIT till price jump into the BULLISH PENNANTS @1.30150(Buystop) with respect to S/R then buy all the way up 1.31500. Please also comment, like follow me and share your ideas on this particular pair too. thanks!
SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY
Chart time frame - H4
Timeframe - 1 Day
Actions on -
A – Activating Event
GBP finding support at current levels.
B – Beliefs
Market will move north from current levels @1.2890 and move towards the first Target 1 level @ 1.2991
FX:GBPUSD
Trade Management
Entered @ Sign up for details
Stop Loss @ Sign up for...
I think we finished the third wave for USD/TRY in the short term. we may see a retracement to about 6,20 area which will finish the fourth, after that the short term target is 6,71.
Good Luck,
USDDOLLAR is in a short trend from the looks of the Weekly and Monthly chart. If the current support level is broken, then we can expect it to go down 400 pips+ below until next support.
Depending on the price where you sell, do attention to your SL.
This is a good move to keep an eye on.
It is so easy to come up with profligacy or a bogus theories of what triggers dollars up moves : Hurricane Harvey = equals compassion, N. Korea's missiles launching gimmicks = weakness... oil plants evacuations influence = equals oil down - dollar up, Arabs on Holiday = equals oil weakness etc BUT! I wont discuss any theory to back up my chart - my apologies! ...
