Volumes can be distributed down | 21 اكتوبر 2016
21 اكتوبر 2016, GBP/USD
Daily chart: the price is in the middle of the bottom Bollinger envelope (1.1883-1.2581), which hinders from finding enties to any of the directions. But the overall determination is bearish: toward the lower band (1.1883)
Н4: at this local frame, the price continues to consolidate within a horizontal range of Bollinger envelopes (1.2184-1.2329). ADX is suspicious - it is in close to the trend area, so distribution can start in the nearest time.
Н1: at this local frame, the price is in the bottom Bollinger envelope (1.2229-1.2262)
The main scenario: touch of 1.2262 and then a drop to 1.2229
The alternative scenario: fall to 1.2184
Trading solutions: sales from 1.2262 to 1.2184.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
