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Daily Analysis

Cable is taking a breather in the form of doji (highlighted in greenish blue). This doji could cause a bounce up, but as long as R1 holds, bears are set for another push down towards the bottom of the triangle.

What’s the verdict?

Read full analysis at: DAILY ANALYSIS « TECHNO4X
 

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Daily Analysis

The bulls made an attempt at piercing through yesterday’s R1 level, but could not maintain their momentum and Cable fell back below R1, once again putting the bears in the driver’s seat and forming a resistance zone with R1 moving to 1.6571.

What’s the verdict?

READ FULL ANALYSIS AT: DAILY ANALYSIS « TECHNO4X
 

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DAILY ANALYSIS (105pip profit)

Cable’s triangle has turned into a head and shoulder pattern with today’s candle landing on the bottom trendline of the triangle. We have removed the drawing of the triangle and have drawn the neckline of the head and shoulder pattern (bottom yellow line). We need a sustained break below the neckline for the head and shoulder pattern to have any effect. Should we get a sustained break to the downside, bears could over time, target 1.5300/5000. This target is based on a projection from the top of the head to the neckline.

What’s the verdict:

READ FULL ANALYSIS AT: DAILY ANALYSIS « TECHNO4X
 

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DAILY ANALYSIS (15pip profit)

The 1.6100 area is a criticial support area for our head and shoulder pattern. Cable bears have to bust through this support and sustain a downside move in order for head and shoulder to become active. This area proved too strong for them today and they were rejected. However, as long as R1 (1.6267) holds, we can expect another attempt from the bears to test this area.

What’s the verdict?

Read full analysis at: DAILY ANALYSIS « TECHNO4X
 

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Buy Gbpusd @ 1.6399

DAILY ANALYSIS

DAILY CHART: BULLISH


As we suggested yesterday, we did get a significant bounce off of critical support at 1.6100. It was such a significant bounce that the close of today’s candle completed a bullish pattern called a morning star(highlighted in yellow).

What’s the verdict?

READ FULL ANALYSIS AT:
DAILY ANALYSIS « TECHNO4X


BUY GBPUSD @ 1.6399

Cancel yesterday’s sell order (it was not taken in).

Consider placing a buy order @ 1.6399 with stop @ 1.6198 at 5pmEST. This trade recommendation is valid until tomorrow evening 5pmEST.

Trade results visible at: DAILY TRADE RESULTS « TECHNO4X

See money management strategy @ MONEY MANAGEMENT STRATEGY « TECHNO4X

Refer to Disclaimer @ DISCLAIMER « TECHNO4X

Blessings

techno4xteam
 

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DAILY ANALYSIS (42.6pip profit)

Cable bulls only made it up to the high of the morning star highlighted in yellow before their momentum wained and the market fell back. We anticipated today to be a little tricky because of the FED giving their economical announcement/assessment this afternoon; therefore we alerted our subscribers early this morning, when we realised momentum was waining, to take profits and stand aside.

Cable has ended the day with a red spinning top meaning the market went nowhere today. Eventhough it covered some territory, it ended almost where it started – as a matter of fact we have a bit of a lower close.

What’s the verdict?

READ FULL ANALYSIS AT: DAILY ANALYSIS « TECHNO4X

BUY RECOMMENDATION

Yesterday’s buy order delivered a 42.6pip profit based on an early alert that we sent out this morning to take profits in anticipation of the Fed’s announcement.

Consider placing a buy order @ 1.64721 with stop @ 1.63253 at 5pmEST. This trade recommendation is valid until tomorrow evening 5pmEST.

Trade results visible at: DAILY TRADE RESULTS « TECHNO4X

See money management strategy @ MONEY MANAGEMENT STRATEGY « TECHNO4X

Refer to Disclaimer @ DISCLAIMER « TECHNO4X

Blessings

techno4xteam
 

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