You've seen it here first folks. I will be looking to short the pound dollar into the green zone (1.36 - 1.37). It may go down to 1.35. This would finish a 5 wave correction. The next targets i'll then be looking for will be 1.45 - 1.48.
PS—preliminary support, where substantial buying begins to provide pronounced support after a prolonged down-move. SC—selling climax, the point at which widening spread and selling pressure usually climaxes and heavy or panicky selling by the public is being absorbed by larger professional interests at or near a bottom. Often price will close well off the low in...
Price is still in a bearish trend. Retracement unable to close above a key area. Price currently sitting at 50% level of sell model which tells me price will drop quick. (sell model may of already completed and this is invalided)
wait for buy signal before longing this pair. Bullish impulse, correction, buy the break out. No signal. no buy
took a lost with the short trade but today i bounce back
Just reached a supply zone. Since we are starting a new week im expecting one more up to the trend line, before dropping to the demand area.
Stopped out first attempt. amateur mistake. Round two. Looking at the chart from a line chart perspective, there may be one more up more towards 1.09500