4HR One leg to short to complete abc, then BUY and targeting 36,25
4HR indicator buying signal, but now waiting a complete break out bar before entering the trade
Dailly MACD4C still high momentum (up trend), but 4HR MACD4C is recovery to zero line, price may back to tunnel , around 1.372 area. Then see the price action to move up above 1.3976 area. Possible? =P
Reason 1. Daily AO, MACD4C and MACD all moving back to zero line, so the daily bar still have room to drop 2. 4HR MACD signal and histogram below zero line, moving down signal Confirmation to SELL 1. Waiting 15m and 1HR MACD signal to sell
My point of view is one more leg down to complete ABC, then up again to 1.41 to 1.618 area
Price may move up to 1.414 area then down Reason 1.4HR MACD4C struggling at zero line 2.MACD moving to positive and signal line still positive at4HR timeframe 3. Daily Timeframe MACD positive, AO and MACD4C bar moving up OR Continue Down trend if break 1.934 Reason 1. 4HR MACD4C and AO divergent 2. MACD signal near to zero and may return to negative 3. Daily...
May one more up to 1.618 then move down Waiting Confirmation 1. Break through the red box 2. MACD4C goes below 0 line (negative bar) 3. MACD EMA goes below 0 line 4. AO negative bar
Waiting for daily trend line and resistance breaks then go for long
Momentum decreasing in 1HR, and RSI is turn up, plan to buy CADJPY for a short term bulls
my point of view, should wait for one more green dot for uptrend momentum to at least hit the 4HR trend line
4HR trend line breaks, price reverse from the support, plan to buy USDCAD.
GBPUSD hit 4HR wavy tunnel and price rejected at the resistance, if the 1HR trend is broken, I will sell. Target, 1.351