PapaOfFour

PapaOfFour

The Dow had a mini break of the long term bullish trend on Monday. We are getting confirmation of that now. We appear to have a short term channel forming, but it is a bit sloppy due to the increased volatility and market over reaction of late. Expect things to tighten up here oven the next couple of days, still very volatile, but with more precision, “tidier” if you will.

PapaOfFour

Easier to see on the 5m at the moment, Selling should be exhausted by 23986 approx. Putting in a short term bottom, exactly on the lowest term line of the long term UP channel. Anticipate an Island R tomorrow, gap up at open. Good luck

PapaOfFour

Obvious long term term has been up. With this mornings sell of, we have stopped exactly at the bottom of the channel. Preference is for A bounce here and a continuation of the up trend which remains intact. Buying opportunity long position, with a target of 32,465. Alternatively a break here, will suggest the end of the bull market, and would recommend anustment...

PapaOfFour

Looking to see if we halt the recent downwards trend with a short term double bitter. We are still inside a much longer rising channel, and as we near the bottom of it, it should be considered a buying opportunity. I expect to see us make a move up on Friday, so plenty of time to wait and see. A break of the long term trend would suggest a bearish out look, and...

PapaOfFour

Made another entry this morning concerning LT Short detailed last night. Hitting against Feb4 high, pair should resume down shortly. Stop 1.309 Targets as illustrated.

PapaOfFour

Jan-March 2021 Target 1.06 Risk to the upside limited, with careful entry. Pair is in a 15 year bearish decline, but currently positioned in the upper 1/3 of the channel. The U.K. has forecast anemic growth this year, and telegraphed no intention to raise rates any time soon. Adding to this the continued uncertainty about the fallout of the actual Brexit, GBP will...