Wadafox Trending

24/04/2020

22/04/2020


Hi,

The bearish reversal to 1.23000 has hit and is now on the move again, I would anticipate a retracement towards the 1.23420 resistance level. This would be a good level to place another sell limit order and chase it down towards 1.22610 for hopefully a 750pip gain. The RSI is still firmly in the sell zone and should keep its momentum to the downside.

( The information provided is purely speculative and we do not accept any gains or losses which may result from our analysis)

22/04/2020

Hi there,

just a quick follow up on the GBPUSD 4hr graph: the RSI is in a perfect sell zone, it almost reached the 38 Fibb level before moving to the downside which shows the bears are still very much in control, as mentioned in my previous post, 1.23500 would have been a nice level to place a sell limit order, it moved 200pips above the level I anticipated. Follow it down towards the 1.22650 support level and look to perhaps set your take profit there, it's still a 950pip profit. I expect it will break the support but to be on the safe side... take profit, recap, analyze and do it all again.

(The information provided is purely speculative and we do not accept any gains or losses that may result from our analysis)

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22/04/2020

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22/04/2020

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