It is worth it to identify pocket pivots when price is under but not to far off from a resistance because once you identify it, you be able to enter a trade relatively earlier and at better price before an actual breakout of the resistance to occur.
GBPJPY SUPPLY AND DEMAND ANALYSIS - High volume, high probability levels. Please see my previous weeks analysis.
Daily Supply & Demand Zones - any divergence shaping up? Just assessing key levels. Our indicator on the chart is Mayfair's OBV Divergence, Moving fibs and support/resistance from higher timeframes. Be great to get comments on the coming week's thoughts for this pair. Have a great weekend!
Hey. The chart above provides the perfect reasoning as to why purely looking at price action around market sensitive data points can be your undoing. On Friday we had the NFP number - this was a big beat. However, GBPUSD didn't really move to the downside all that much. This likely led to many getting long, lulled into a false sense of security going into the...
Hello traders! A quick Cable update, where we have noticed a corrective decline for the past few weeks. Well, at the end of 2020, we have seen strong and impulsive push to the upside, clearly with five waves into a wave A and then, from the beginning of January of 2020, we can see a three-wave a-b-c decline, ideally for wave B, so seems like Cable may retest the...
Hello traders! We have noticed an interesting pattern on Cable (GBPUSD). It's a corrective triangle consolidation, which is also a continuation pattern that usually occurs either in wave (B) as part of a correction or in wave (4) as part of an impulse and as you can see, in our case it can be as part of wave (4) that can send the price into new highs for wave (5)...
With a flat bottom Triangle or any triangle as a matter of fact, we have opportunity to go in either direction, top or bottom.
BoE Vote split comes in at 6 - 3 BoE keeps rates and asset purchases unchanged at 0.50% and 435bln respectively. - Vote was 6-3 in favour of unchanged Bank Rate, unanimous for QE at 435B/APF at 10B - Haldane, McCafferty and Saunders dissented, voting instead for a June hike - Majority on MPC still reassured Q1 softness was largely temporary, but preferred to...