Quote:
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Originally Posted by sc.david
Gbpusd, H4 Chart:
Trending Upwards, But There Are Signs Of Retracements:
- Price Will Tend To Fall To S+
- After Which Two Things Are Expected:
- A Break-out
- A Rebounce To R+
> Rebounce:
- Price Retracement First Target Is "t2 ( 2.0095)"
- Retracement To "t3 (2.0021)";b/w '2.0021' And '1.9985',
Will Give A Good Long Position.
- Long Target Will Then Be "t1 (2.0394)"
> Break-out
- This Will Give Us A Good Short Position At "1.9843",
With A Target At "1.9420"
There Are Higher Possibilities For A Rebounce Off S+.
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HAVING OUR TARGET BREACHED!
GBPUSD: H4 CHART
Ascending Trend, but there are some signs of Trend Change.
Herewith, this reversal is not confirmed, and price remains
within a large range ( BR+, and BS+), this is seen on Weekly
chart.
We are having a Pattern almost done on the H4 Chart, this is
the Head and Shoulder Formation.
If this is accomplished, this will be a reversal between
"T1(2.0238) and T2(2.0141)" then, breaking T2 downward to
"T3(1.9984)" which will be our Neck-line for a confirmation.
A break-out from T3 downward, leads us to "T5(1.9753)".
Price might not be able to get to "BS+".