GBP/UK and Retail Sales in 6 hours - MIXED PREDICTIVE SIGNALS
Updated
MIXED PREDICTIVE FUNDAMENTAL ANALYSIS SIGNALS!!!
Technicals:
Waiting on GBPUSD Sell Signal......
Waiting on GBPCNY break of support...
Need GBPNOL to also break support.
EURGBP remains subdued at support.. waiting for a bullish EURO catalyst.
I DO NOT THINK WE WILL GET IT, but if we do....here is the catalyst!
Fundamental Catalyst:
Any news catalyst can tip the scales.
Retail sales are coming out for UK (GBP). Now, the consensus is that it will be better than expected.
My predictive fundamental anlysis for GBP remains on hold because of the clustered data.
THE PROBLEM:
GBP fell..great.. but it fell 13%-14% and that helped with inflation. Consumer confidence was low..yeah..but people in the UK have been on a BUYING spree, according to my data.
Then.... I can go in and look for the final set-up to go short: Shooting Star, Rejection Candle, BREAK OF SUPPORT.
*** Bears really want to break the support on the 2 hour chart....then.. double pressure from Bulls and Bears Down.
Now, there may be a buy the rumor sell the news affect. We shall see.
Technicals:
Waiting on GBPUSD Sell Signal......
Waiting on GBPCNY break of support...
Need GBPNOL to also break support.
EURGBP remains subdued at support.. waiting for a bullish EURO catalyst.
I DO NOT THINK WE WILL GET IT, but if we do....here is the catalyst!
Fundamental Catalyst:
Any news catalyst can tip the scales.
Retail sales are coming out for UK (GBP). Now, the consensus is that it will be better than expected.
My predictive fundamental anlysis for GBP remains on hold because of the clustered data.
THE PROBLEM:
GBP fell..great.. but it fell 13%-14% and that helped with inflation. Consumer confidence was low..yeah..but people in the UK have been on a BUYING spree, according to my data.
Then.... I can go in and look for the final set-up to go short: Shooting Star, Rejection Candle, BREAK OF SUPPORT.
*** Bears really want to break the support on the 2 hour chart....then.. double pressure from Bulls and Bears Down.
Now, there may be a buy the rumor sell the news affect. We shall see.
Trade active
Note
I already sold...before.. this could be a second entry for late comers. Now it is midnight New York time. Market will be choppy going into UK data. I do now expect anything as I mentioned before. I want to see negative UK data kick in though.Note
Here is a better set up..... stops must be very far away...prepare for a spike..Note
NEXT Up: GBPNOK... who is next? Note
Note
GBPCAD...probing... waiting for USD, CAD and China:s3.amazonaws.com/tradingview/snapshots/v/VBRVkv9p.png
Trade closed: stop reached
News came out positive as per fundamental analysis. so.... the fundamentals were right again. And it was good NOT to take a MIXED trade. Although I did.. I was actually on the wrong side of the market this time.
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