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Non-directional structure

Non-directional structure | 05 August 2015

05 August 2015, GBP/USD

Daily chart: in spite of the fully finalized downward swing, bulls can not find strength to attack yet, although they have a very favorable structure to attack the last Top (1.5688).

Non-directional structure

Hourly chart: As you can see, the structure is non-directional - are consecutive updates of Highs and Lows. However, such expanding structure tells at least about the need to build the upward swing. The ability of buyers to attack the last top within this swing or not will be seen tomorrow. Meanwhile, Inside pinbar allows trying your luck because of the small Stop (under the current bottom, 1.5557).

Non-directional structure

Scenarios: growth from current levels to 1.5627.

Trading solutions:

1) Buying to 1.5627 with a Stop order placed at 1.5550.

Aleksey Panasenko
FreshForex Analyst
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