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Candlesticks and Ichimoku Intraday |
Written by ActionForex.com |
Sep 30 09 10:03 GMT
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Trade Idea: GBP/USD - Sell at 1.6010
GBP/USD - 1.5962
Most recent candlesticks pattern : N/A
Trend : Down
Tenkan-Sen level : 1.5976
Kijun-Sen level : 1.6001
Ichimoku cloud top : 1.6396
Ichimoku cloud bottom : 1.6310
New strategy :
Sell at 1.6010, Target: 1.5830, Stop: 1.6070
Despite intra-day rebound to 1.6127, the subsequent retreat from there suggests the correction from 1.5770 has possibly ended and downside bias is seen for fall towards yesterday’s low at 1.5824, however, break there is needed to confirm and bring resumption of recent decline from 1.7044 top for retest of 1.5770 later this week.
In view of this, we are looking to sell cable again on recovery. Only above 1.6127-34 resistance would abort and signal stronger correction of recent fall is taking place, then gain to 1.6190/00 (just below 61.8% Fibonacci retracement of 1.6470 to 1.5770) would follow.
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