British Pound / U.S. DollarUpdated GBPUSD__weekly: A drop unto a PBZ or box method in bear trend
If this micro-bull trend should continue, then last week's drop should be a signal to lift pound off from here. ( I mean good buying Friday's close, Aggressively so). Heavy drop but doesn't matter if trend is really up
The conservative would wait for the 3DVR for last week's RE_bear. So that, if we fail to reach 1.2698, three weeks from now, then buy w/ stop @ same.
Alternatively, realizing that the major weekly trend is down, and counting the rally from 2016, October 2 as a micro bull trend within a bear trend makes a close below my box low(1.27733), a bear trend continuation.
Trading pound should be interesting, going fwd. ;)
mooreforex
The conservative would wait for the 3DVR for last week's RE_bear. So that, if we fail to reach 1.2698, three weeks from now, then buy w/ stop @ same.
Alternatively, realizing that the major weekly trend is down, and counting the rally from 2016, October 2 as a micro bull trend within a bear trend makes a close below my box low(1.27733), a bear trend continuation.
Trading pound should be interesting, going fwd. ;)
mooreforex
Note
April 4, 2018 today:Looking back to when this statement was made
" If this micro-bull trend should continue, then last week's drop should be a signal to lift pound off from here. "
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.