Bad thought. setups cancelled. I see setups shorting GBP USD and GBP JPY @ overhead resistance.Originally Posted by ;
Bad thought. setups cancelled. I see setups shorting GBP USD and GBP JPY @ overhead resistance.Originally Posted by ;
GU month of April review. Will trade within well defined range, range highs 2650-2750 max and range lows 2000-2150.
Currently headed into range lows so setups to acquire short looking great and also confirmed by GBP JPY range highs incoming soon.
April pretty strong month for GU historically, however, the bargain is that this season also many problems from Brexit processes weakness at euro triggering a strong dollar response, I really don't expect GU to be able to break from the preset range in April, therefore 2050-2650 seems like a very probable range for a month of April.
For following week: GBP USD pending buy order @ 3193 SL 3170 TP 3293 ( 100 points).
Dxy h4 is H*S setup from the making. Can use it to time GBP USD entries. Once @ neckline will GBP USD near 3340-60 region.
For currently going long GBP USD (early next week).
Revising my egy - I don't like GU anymore, will seem to load up EURJPY/EURGBP longs instead (soon). Once I enter the trades, will post updates. Have a wonderful day.