All key areas are based on 1day TF.
We have seen price reject our resistance at 1.34365 and impulse down to our next key level at 1.32720.
We can also see that price has started to consolidate and form a flag pattern.
A break out of this flag to the lower side is what I am gong to be looking for and if this does happen we should see price copy the previous...
We have seen a break out of this resistance that has been holding for a while now. I got in just before the breakout as all of my indicators told me price was going up.
GU is looking very bullish today!
As you can see we have a very strong trend line here which ha been tested for the fourth time and a bullish engulf can be seen rejecting the line. I feel as though we can see price reach previous high if things continue the way they are going and maybe even break through that point creating new highs. I'm definitely going to be bullish for the next few days!
As you see price has previously tested resistance twice before breaking through.
Price is currently hovering around thata point making me think that this will become a new support.
Also price is hovering at around the 61 fib mark.
We got in here on cable after a clear SMA cross had appeared.
No major data out of either country until 13:00 GMT which gives this position a good 4hrs before we need to either take profit or stop loss.
All of my criteria was met with this trade hence why i decided to enter.
The stop loss was fairly big but i decided to enter anyway as this trade set up was very appealing.
No big news out of the pair now until 15:00 GMT.
All my criteria has been met.
4hr chart in a big uptrend.
15min chart RSI above 50.
Stochastic trending upwards
MACD Coming from negative to posative
Sticking to my strategy we will see where this one takes us!
It looks as if there is a change in trend on the way.
All oscillators point to bullish momentum.
I a looking to scale down to the 15m time frame and get into some nice long positions today.
Durable goods orders in at 1:30 GMT so i will e looking to get in after the data release.