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Looking for upward entries on a decline

23 September 2016, GBP/USD

Daily chart: yesterday, after the inside bar from the lower Bollinger band the pair has predictably moved up. But there are still very weak ADX parameters, therefore, the movement will be multi-directional.

Looking for upward entries on a decline

Н4: ADX in the active trend area for benefit of buyers. If northern scenario is implemented, then, not lower than under 1.3029, we can wait for a new upward move to 1.3190.

Looking for upward entries on a decline

Н1: here, in turn, ADX is weak and corrective, so flat within Bollinger envelopes (1.3029-1.3106) is not excluded.

Looking for upward entries on a decline

The main scenario - flat 1.3029-1.3106

The alternative scenario - surge to 1.3190 (probably after a decline towards 1.3029)

Trading solutions: look for upward signals (around 1.3029)

Aleksey Panasenko
FreshForex Analyst
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