GBPUSD__weekly: A drop unto a PBZ or box method in bear trend
If this micro-bull trend should continue, then last week's drop should be a signal to lift pound off from here. ( I mean good buying Friday's close, Aggressively so). Heavy drop but doesn't matter if trend is really up
The conservative would wait for the 3DVR for last week's RE_bear. So that, if we fail to reach 1.2698, three weeks from now, then buy w/ stop @ same.
Alternatively, realizing that the major weekly trend is down, and counting the rally from 2016, October 2 as a micro bull trend within a bear trend makes a close below my box low(1.27733), a bear trend continuation.
Trading pound should be interesting, going fwd. ;)
@mooreforex
The conservative would wait for the 3DVR for last week's RE_bear. So that, if we fail to reach 1.2698, three weeks from now, then buy w/ stop @ same.
Alternatively, realizing that the major weekly trend is down, and counting the rally from 2016, October 2 as a micro bull trend within a bear trend makes a close below my box low(1.27733), a bear trend continuation.
Trading pound should be interesting, going fwd. ;)
@mooreforex
Looking back to when this statement was made
" If this micro-bull trend should continue, then last week's drop should be a signal to lift pound off from here. "