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Lets recap the last two/ three weeks price action.
Wk starting Mon 24th Feb £$ was moving down within a downward wedge, It hit a low in the 12760 area, Bottom line of wedge was broken but turned out to be a false break. Created a yearly low btw 12760 area.
Wk starting Mon 02nd March £$ bounced entered back into the DWW and broke through the top of the DWW to break...
not much to talk about, we opened gap up which is great and it looks like we aren't going to pullback too much.
£$ has already broken daily pivot points and looks like its testing R3 as support. we shall let the day tell us whats going on, lets wait for the yanks to wake up.
For now stick to the plan. BUY THE DIPS
Hey Guys Big Week ahead for the CABLE, Economic calendar is chalked full of possibilities.
To the charts now and if you look at my previous charts mainly the one titled retest of shorter term downtrend line,
you will see that after that break out we tested and then bounced for the week basically unopposed.
£$ then broke out of the downward wedge and we ended the...
1stly I want to apologise for the WTI long play idea, It was rushed and I didn't pay much attention.
I hope none of you who saw it lost to much money, If you did DW we will get it back soon.
So without further ado
Hey Hey Hey, Names Jay, From London UK, 37, 2 Children, 1 girl just turn 7 and my lil man is 3.
Been studying trading for 4 years, Paper traded for a...
**UPDATE** So after the false breakout to the down side £$ bounced off a shorter term downtrend line
and reversed, the decisive break to the upside was the break of 128500. **BULLS IN CONTROL**
KEEP AN EYE ON THE ECONOMIC CALENDAR
So £$ broke out of the lower end of the downward wedge as seen on the chart but the BEARS failed to follow through, Although not from a lack of TRYING as £$ met DECENT SUPPORT @ the 12750.5 area.
Since Monday we have consolidating and/or ranging between 12750 & 12850
We have some BULLISH DIVERGENCE which we will wait to see if it takes...
We have been in a downward wedge for a while now and over the last week have been experiencing the effects of some Bearish hidden divergence that has now played itself out. EU/GB TRADE TALKS START NEXT MONTH, We can hope for some increased IV for GBP pairs.