30 March 2016, GBP/USD
Daily chart: the pair is likely to reach the zone of the upper Bollinger band (1.4512), but we should continue to wait for the rollback down, because everything happens for non-trending ADX that shows correction
Н4: breakout of the upper Bollinger envelope can enable a roll back down to the middle band ( 1.42), but meanwhile bulls still press. Intermediate resistance is in the 1.4437 area. Perhaps from here the downward correction will start
Н1: exits beyond the top of the envelope - a correctional determination, but we can see that the price is still determined to the upper Bollinger band. You have to be careful if you are practicing a counter-trend trade. It is safer to wait the upward entry points at the bottom (we assume that around 1.4280, the middle Bollinger band).
Expectations: The main scenario - achievement of 1.4437, and then the downward correction around 1.4280 The alternative scenario - drop from current levels towards 1.4280
Trading solutions: 1. Sales of 1.4437 to 1.4280 2. Buy around 1.4280 (target 1.4513, extraday)
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