Attempted break upside from within interval. Retesting 40547. Monitor for acceptation or rejection.Originally Posted by ;
Attempted break upside from within interval. Retesting 40547. Monitor for acceptation or rejection.Originally Posted by ;
Now 4025 is your reference for US participants as it is the low of this pit inside week. Again, acceptation or rejection above it is fundamental as in case of acceptation we can aim at the top of the inside pit week (4278) while in the event of rejection above it we can imagine a new potential effort disadvantage in the direction of the past week tried break.
Note that PreUS B phase is an one. Principles apply.
I also suggest to continue to give attention to major action downside half back 40547.
Finally notice that price is currently within the preceding pit gap drawback (40592-4101): this zone could be intriguing for upcoming pit session.
So pit started, went downside to test 40547, collapsed below it and came back upside towards the top of this old pit gap (4001) just to stop a few pips below it...Originally Posted by ;
What do you say ? Is that retrace that is false or will Gbp keep going down. As I hv cash on it so it does, I expect
Here we're finally at 4025: ideal tag for now. Monitor carefully for acceptation or rejection under it!Originally Posted by ;
Given the fact that we already have acceptation above it. As we spent the session above it at the zone.Originally Posted by ;
Originally Posted by ;Well, what a wonderful spot 4025, is not it? 3 Pips below it, collapsed, 75 pips upside, straight back to 4101, at the pip (also It's now a weak and bad high)Originally Posted by ;
This is a valuable information as an exact level tagged is generally a questionable one for definition: who sell or buy at a precise and very observable degree? Terrible hands...Originally Posted by ;
A different story if the degree is overshoot, like 4025. In this case price went under our value (3 pips) and just then retraced upside. 4025 is a term level as it is the low of an inside pit week range. So, obviously a more powerful service (if tested from previously)