Aug 15 and Oct 31 may form GBPUSD 1.269 double bottom shape. Oct 12 -> Oct 31, short trend has been broken today.
So , what do I plan to do next?
I will waif for one or two day minor fall back, then take 50% long position, stop loss at 1.269, first target 1.292, second target 1.307, third target 1.324. My get-in price should be below 1.280, otherwise,...
I think Dollar index break down an important line, and EURUSD is also breaking up , so I am urgent to get my Long Position back, with stop limit under the rising trend line, with target price near 1.247... My positions are controlled within 20% to ensure robust and safe trade.
The U.S. dollar index break down the important support line of the triangle pattern , and the next short target is the orange support line 88.94 below, if break down again then next target is green support line at 88.28. Currently, the price is undergoing with a steady decline, see as the blue downtrend line.
F.Y.I. These are just my personal opinion.
I think it's worthy to have a try now.
Although there maybe two possible way of price trend, I take 18.6% of my positions to trade for long direction, stop loss at 1.22523, first target is 1.23362, (if bullish trend goes well) second target is 1.23872, third target is 1.24463 ...
From day level candle picture we can see the price is near the bullish trend line now.
From 4 hour level candle we can see price break the bearish trend line last Friday night, so I think although I missed the first chance to trade when price keep rising at about 1.226 eight hours ago, I can still keep patient to wait for another chance.
Maybe from 1 hour candles...
From 4 hour candles , dollar index is still in the big downward trend, the first pressure position maybe near 90.45, stronger pressure maybe near 91.02 (close to the downtrend line );
From 1 hour candles , after the second time of rising last night, we can draw the basic rising trend line as a support line, if price do not break this support rising trend line, the...
From 1 hour candles we can see clearly that yesterday night gold break bullish trend line, and it fell below the lowest point of the last bullish wave, so I think it is very possible that another bearish wave with at least the same fall extent will occur today.
Now I wait for the candle signal to open short trade, the stop limit will be the highest price of the...
