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Miss down pullbacks and look for rising signals

Miss down pullbacks and look for rising signals | 11 March 2016

11 March 2016, GBP/USD

Daily chart: bulls broke through the middle Bollinger line and has consolidated in upper envelope. It is good indicator for further upper movement in 1.4567 direction (upper Bollinger Line). ADX is rising and located above "30" line, it shows preparing for trend. Pullback is possible to middle line (1.4196), we are looking only for buying.

Miss down pullbacks and look for rising signals

Н4: consolidation in range of Bollinger envelopes (1.4163-1.4296) we are expecting pullback.

Miss down pullbacks and look for rising signals

Н1: now pair is on local support of middle Bollinger line (1.4259),from this growth is possible to upper (1.4337, look at the blue pointer).

If this support is broken through it will be decrease to 1.4196 level, where we would buy in medium- term volume (look at the red pointer).

Miss down pullbacks and look for rising signals

Expectation:

Main possibility is straight growth to 1.4337

Alternative possibility is decrease to 1.4196 and then growth to 1.4337

Trading decisions:

1) Look for signals on enter into zone 1.4196 and 1.4259.

Aleksey Panasenko
FreshForex Analyst
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