manager photo
Ask a question
We will be pleased to answer any questions you may have
Write Call
Close
Log in

An upward pullback within the day's flat

22 August 2016, GBP/USD

Daily chart: The pair is still within the horizontal break-even range 1.2872-1.3345. ADX is adjusted and weak, so this trend seems to continue.

Н4: a better shaped corridor 1.2975 - 1.3178, but here we have aggression from ADX, which can relate to actions of both sellers and buyers with the equal probability.

Н1: contradiction between ADX and oscillator means an upward movement - correction. Therefore, we shuold monitor Sell signals around 1.3067 and 1.3120 (middle and upper Bollinger bands).

Expectations:

1. A rollback to 1.3067 and then decline towards 1.3018 < / p>

2. A more noticeable pullback (to 1.3120) and then decline to 1.3018

Solutions: The tactics for today is waiting

Aleksey Panasenko
FreshForex Analyst
See also:
Agree with the review?
Traders' opinion:
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .