GBPUSD

remo wrote:

diver993 wrote: Again this is one I'm not convinced has bottomed out: another that's looks like a wave iv on the hourly. I'm hoping to get in at sub 1.60 but may have missed the boat...and would target 1.65

theres a hammer forming on this so you may get your chance .
Obviously it has to finish the day as a hammer then look to go long when the price goes half way down the hammer with a stop just below the low of the hammer.That way good risk to reward.
only downside to this hammer is that its not a major support level its formed in.
again...its early days yet so it may not finish as a hammer

dyor

trade has activated earlier due to half way down the hammer.
stops below.
this will be a free trade soon and stops moved to break even.

I went long on this at the 61.8% fib line at 1.6015, stop just below 1.6000. Seems to be playing out OK at the moment, but I have moved my stop up to B/E just in case something happens overnight on Sunday/Monday.

diver993 wrote: Again this is one I'm not convinced has bottomed out: another that's looks like a wave iv on the hourly. I'm hoping to get in at sub 1.60 but may have missed the boat...and would target 1.65

theres a hammer forming on this so you may get your chance .
Obviously it has to finish the day as a hammer then look to go long when the price goes half way down the hammer with a stop just below the low of the hammer.That way good risk to reward.
only downside to this hammer is that its not a major support level its formed in.
again...its early days yet so it may not finish as a hammer




dyor

Again this is one I'm not convinced has bottomed out: another that's looks like a wave iv on the hourly. I'm hoping to get in at sub 1.60 but may have missed the boat...and would target 1.65

that was for the previous retracement and not for the new one.
forgot to take it of .

Why do you put the 0% fib line at the top of the first shooting star rather than at the end of the tail of the second (larger) candle?