lche220

lche220

GBP is so strong at the moment, but we should be careful not to buy at the top of the channel, should wait until price reach lower band of channel

lche220

3 reasons: 1.in the channel 2.MACD in negative zone 3.in 4H chart, price is below 50MA

lche220

also being rejected by the previous key resistence level

lche220

since the current channel is broken and MACD is above 0-axis

lche220

lower high has formed, target 1 is 1180

lche220

refer to the channel I draw,

lche220

the current channel remains steady, we can see that 1.08 is both channel upper band and also former key resistance level. take profit when price reach there

lche220

price has drifted away from previous channel, now is ambigious, we have to wait for annother higher high, eg 1230, or a lower high to form.

lche220

currently price is in the middle of channel, if short now, P/L ratio is too bad since you have to set the stop-loss above the channel.

lche220

oil price is forming a triangle, once price break it or candle stick in hour chart show strong up-shadow, we can start to short

lche220

we can clearly see double bottom on daily chart. price has rised last night.

lche220 Updated 

also, MACD in 4H chart has come to negative for a first time since this hike started in early January.

lche220

what I said in last post was completely right. DXY intentionally go up during Wednesday before Trump's speech, to fool people to make them believe DXY is going strong again. After Trump speech, no doubt that DXY will continue to drop

lche220

price has break through daily large triangle, the long term target will be hundrands of pips (think about 1.12, isn't that attractive?) long with great confidence if price has any retreat

lche220

a strong daily trend line is supporting, plus DXY is stable, and oil is dropping which will make CAD weaker

lche220

1195 is 38% retracement at daily chart, and also where 50MA is located.watch closely once price reach there, might have a good change to short

lche220

DXY fail to break previous low, thus price might go all the way up to test Boll mid line (ie 102.9), once price which there, watch closely to see if it turn weak again

lche220

Oil has formed a head-shoulder top, then drop in a nice and tidy down channel. sell when price retreat to 10 or 20 MA