As the trend is up and the next big resistance area (looking at weekly) doesnt come until the 16740s, im looking if this trendline support now holds. If it does, id look for price action formations around this area.
Monday, 25 April 2011
GBP/USD Analysis
Taking a birds eye view of cable, its had a nice bullish run since the Dec 2010 lows. The Daily charts shows nice setups forming if you used pin bar candles, especially with that strong support at 15976.
As the trend is up and the next big resistance area (looking at weekly) doesnt come until the 16740s, im looking if this trendline support now holds. If it does, id look for price action formations around this area.
As the trend is up and the next big resistance area (looking at weekly) doesnt come until the 16740s, im looking if this trendline support now holds. If it does, id look for price action formations around this area.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment