Don't miss it ... GBP/USD's fight to close the week

Globally, it seems USDX facing potential barriers as anticipated before on this area. In parallel, there is resistance of #PoundSterling to keep strengthening that have occurred since January 16,2017.

Indeed, there was a pressure on #Cable in the area 267x, however January Fibo 50 to 61.8 already provide strong support  to keep #GBPUSD remain above 200 MA and has damaged the down trend pitchfork channel to the north pole.

There are still some bottleneck to go to the north pole directly , off course -  like to air trip... sometimes no direct flight  and just enjoy the travel, but if weekly market closed bullish and Previous Monthly Fib - 50 can provide support strong, very likely will remain engaged #sterling to the north, although with difficulty. Where is the destination ? Just check your airline ticket on the chart above . No problem,  Hotel for a break and coffee with bear might be available also there  ... So Just book the hotel room now :)

Vice versa , if the weekly candle  turn bearish, most likely, GU will have sideways in the following times with a tendency to lead to previous monthy Fib - 50, if it's broken, 2250 should be in the card to watch closely with a stop loss at 2700.

Only my personal analysis for 4H time frame and still consider the UK-EU fundamental , particularly BREXIT issues.

Safe Trade.

Rgds, Iqyu

Greenback creeps up after tumbling below 100

Greenback slipped back into the falling wedge after trying hard to undermine the wedge. 

Finally, after tight price battle around the border of downtrend channel , USD got the fuel to stay above psychology level and close the week at 100.7 to stop ( temporary ? or ?) the bear attack.

However, it doesn't mean there is a free highway for the greenback. As long as 99.23 could handle,  USD has a momentum to visit old supply zone around 102-103, a range where scale out  and set position at BEP ( once 102 touched ) seems a fit trading strategy  for buyer. Meanwhile, pending sell at the top or scale in after the supply range confirmed will be an alternative for seller.

Keep in mind BAMM and Dragon for entry and risk management.

Rgds, Iqyu

Dowjones in no man's land after 20000

Broke its first resistance after the drop from 20000 to 19740/50, and currently stay at 20268 to close the week.

Although it makes higher high after its correction to 19740/50, there is still no higher high on the oscilation data. Kind of bearish divergence attack should be anticipated in future. It's an early alert, that the seller is in on eyed the certain level.

Where ?

Absolutely, nobody knows, but BIG DOGSS !!! As a small fish on the ocean, we only could identify the

seller come after the false break or waiting for Bearish BAMM or Bearish Dragon.

Later we will discuss about BAMM and Dragon, the safe way to define the entry. But it needs a patience for the confirmation, indeed.

Have a great weekend. No need to bother to check the hotel, just click for easy.

Rgds,Iqyu

Fibonacci Breakout on #GBPUSD

If market can maintain 4H #GU to stay below the Asian session low and low yesterday, it seems 30-60 pips below yesterday's low ... in the pocket.

GBPUSD Bear : Halted and Possible Turn Around To Start The Week

Cable seems loosing momentum to break 2400 directly, although  weekly market so bearish. 245x has pushed market to stay in 60 pips tight range in last NFP night to close the week approximately at 248x.

We may look back cable  going to  1.26xx or the blue box ( at least ), if 253x broken to the northward. Viceversa, we may see 2400 or even lower if 245x broken. If it happened, we should anticipate bearish trap in lower level. Why ? Bullish shark , in term harmonic ratio , on the card already.

Just let the market make the decision itself and get it.

Have a monday trading and success for your pips .....

Rgds, Iqyu

New US Sanction on Iran made Oil inching higher

Oil rises to 53.85 to close the week amid the new tensions after US Treasury Department issued a new wave of sanctions against Iran, in addition to the existence of an agreement between  member of OPEC and Non-OPEC to cut oil output. Meanwhile, US Rig  jumps to 583, highest since October 2015.

The possibility for oil to break 55 , the current strong resistance ,  become higher and if it's broken, oil will keep climbing to the new resistance range, the blue zone, with 60 as the average. The stronger fundamental trigger could make 64-65 revisited as mentioned earlier on my twitter months ago.

GBP/USD before NFP Data

Bullish Divergence with RSI starts detected on m15/m30 time frame   , 1 hour before NFP release.