New drop preparation | 03 March 2017
03 March 2017, GBP/USD
Daily chart: ADX is very aggressive, at any time now the pair may start declining at accelerated pace towards 1.2142.
Н4: here we are observing locally oversold market and corrective ADX. Lower Bollinger envelope range is not likely to change during the day (1.2204-1.2338)
Н1: more localized corridor is 1.2251-1.2287 (Bollinger bands). However, ADX is growing, envelopes are narrowing down so it's not recommended entering long.
Expectations:
Core scenario - flat within 1.2251-1.2287
Alternative scenario - drop to 1.2204
Solutions: look for downward entries towards 1.2204 (presumably from 1.2287)
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.
