5MIN GBP/JPY — Possible indication for a second round to the downside???

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The fibs for the 2nd daily chart I previously posted were similar to those drawn on the 4HR so I decided not to use it (2nd daily). I overlooked the fact that the lows for each drawing did not differ by a significant amount to warrant drawing ...

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Daily Gbp/jpy And Gbp/usd — Here is how it looks without the fibs. A break below that trendline and this pair might be in for a free-fall. However, I don't think it will happen without the GBP/USD breaking beneath the median line of the ...

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DAILY AND 4HR GBP/JPY (w/ closesups) — Here ya go!!

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DAILY AND 4HR EUR/USD (w/ closeups) — ...

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If price happens to go up, the perfect time for it to run into a combination of potential resistance areas would be just before the London open to just after the European open. The below chart is a closeup of the hourly USD/CAD. The red line ...

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HOURLY & DAILY (w/ closeup) USD/CAD — Uh-oh....price has fallen outside the pitchfork and has been hanging outside it for several hours. It is also encountering resistance at the 61% fib line on the hourly and the descending trendline on ...

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Upon further inspection, I've decided to slightly adjust the green pitchfork on the hourly chart due to a better response in price action.

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2HR EUR/GBP — ...

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DAILY EUR GBP — ....and the march continues. For the record, the 261 ext. is at 0.7591 This pair is like a heat seeking missle. Slow to reach its target, but it makes it there nonetheless.

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I often struggle with the answer to this question. I sometimes end up holding on to old fib drawings too long (lol). You should always draw fibs that reflect the current price movement, however, fib lines drawn on past price action can still be ...

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There has been great support for price on these charts. Since price has briefly broken through the pitchfork on the daily, the next levels of resistance that lay ahead are the outer pitchfork line on the 4hr, the 1.4800 price level, and the 76% fib ...

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First of all, I have no idea how price will react when it reaches a certain level. I'm intelligent enough to know and say that. With that being said, three things that will help in making a decision when using fibs/trendlines/pitchforks is price ...

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4HR GBP/JPY (w/ closeup) — Here is the 4hr chart I mentioned in the previous post:

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Hourly Gbp/usd And 15min Gbp/jpy — Price made its way up to the area I spoke of for GBP/USD and ran into resistance and made a great short trade. As for GBP/JPY, price fell from the swing high I spoke of and found support at the bottom ...

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15MIN GBP/JPY — Price met resistance at the top trendline without much of a retracement. It also broke through the 50% fib line and came back to make a bounce off the trendline. Price is currently meeting resistance at a swing high (indicated ...

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HOURLY GBP/USD — I think the highlighted area would make a nice short trade, if price makes it that high prior to the interest rate announcement (maybe afterwards too, but with way less certainty).

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DAILY EUR/GBP — I believe we are going to see a 100 pip move (or close to it) in this pair before the week is over. Below are two daily charts. The first is a shorter term and the second is a longer term (the one that kicked it all off). Note: ...

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The Pound is facing a serious dilema. It's in a fly or die state right now as shown by this daily chart (consider this a gift to you forexers out there because Santa is in the process of going into hibernation).

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In hindsight, that stop should have been a bit more conservative (lol). Maybe around 214.75. Plus, the bounce off the median line proved to be an indication of a further rise in price (with price breaking outside the pitchfork giving additional ...

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