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Waiting for an upward dash, pullback and chanced to enter in purchase

Waiting for an upward dash, pullback and chanced to enter in purchase | 15 July 2015

15 July 2015, GBP/USD

Daily chart: the pair has closely approached the middle Bollinger band (1.5659), above which there is a space to grow to the upper band (1.5920). Taking into account that ADX is under correction, we may assume that those players who are late with purchases will have the chance on a pullback.

Waiting for an upward dash, pullback and chanced to enter in purchase

Н4:attach of the upper Bollinger envelopes is likely to succeed. Waiting on the middle Bollinger band 1.5525 to buy to 1.5920.

Waiting for an upward dash, pullback and chanced to enter in purchase

Н1: a better shaped support on 1.5558 (the bottom Bollinger band )

Waiting for an upward dash, pullback and chanced to enter in purchase

Expectations: so we are waiting for an upward dash to break the upper Bollinger envelopes (approximately to 1.5700), then a pullback to 1.5560, from where we are buying to 1.5920 in the middle run

Trading decisions:

1) Waiting for chances to buy around 1.5560.

2) If we get a reliable short signal, we may try to sell from 1.57 to 1.5560

Aleksey Panasenko
FreshForex Analyst
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