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Obviously in front of us on the GBPUSD chart we can clearly see that there is a down trend taking place as we speak and from its looks of it seems to be a main trend of course that was confirmed when the 6 and 5 EMAs were located below the 35 EMA.
From the looks of it making sell orders would be the wisest decision once a bearish direction is confirmed by the other indicators.
Also there are dots located below the candlesticks from the parabolic sar indicators showing us a upward direction adding to that the upward signal formed by the cci line when it got located at the Higher level.
Also to be sure we get a sell signal from the MACD indicator as it was moving below the level 0.
So In the end I do think selling would work greatly for me according to what we witnessed up till now unless an opposite bullish signal appears.
http://bigimage.cz/photos/20141014141326666112016.gif .
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According to the position of the price at the moment which is currently in a position lower than the 15 EMA line there is a good chance for a bearish trend to be taking place today on the GBPUSD chart.
There is a small chance for the bearish trend to take place according to the signals appearing by the power momentum indicator which is a great tool to filter the sell positions we are about to enter.
As for the power line indicator which is showing a downward direction signal due to its position which is below the 50 level at this moment.
http://bigimage.cz/photos/20141014141326827157063.gif .
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As a result of the red arrow that we are seeing at the moment on the GPBUSD chart we conclude that a bearish trend would be taking place now on the top of that the top located at the price 1.6125 which is a strong resistance at the moment and the price shouldn’t be able to go above it if the bearish trend stayed strong.
A up direction is to be taking place because of the parabolic sar’s dots which are located below the candles.
And for a take profit the price level 1.605 would be perfect since it's a support when we are selling because there might be a good chance for the price to start hitting north after hitting it.
http://bigimage.cz/photos/20141014141326796297467.gif .
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the red dots appearing above the candle bars indicates that the price today is going to be heading downward depending on the price’s position we are going to determine where the price would be heading so if the price remained in its position lower than 1.6216 which act as a strong resistance at this moment also it happens to be a weekly pivot point at the same time then I do believe that the price would be heading south only till it meets the next weekly pivot support at 1.5943 .
But what if blue dots appeared indicating bullish trades and the price bypassed the resistance 1.6216 and headed for the opposite direction then I do believe that the price in this condition would be heading north until it reaches the price 1.6358 which is the next resistance and the next pivot level of the week.
http://bigimage.cz/photos/20141014141326886192043.gif .
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When we see the chart of GBPUSD there is up trend with up arrows and blue candles in Henkin Ashi indicatror In the same time T3-Clean indicator makes an intersection with thw Snake indicator which make buy signal for now Finally there is red signal at the trend-session that shows a strong possibility for down trend if we saw the last signal I think we should choose buy orders and it is the best betting for now for the buy operation target the resistance 1.61 is the best point to claim your profits http://bigimage.cz/photos/20141014141326620174578.gif
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http://prntscr.com/4w1knu
analysis for today 10 / 14 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle GBP / USD on the date 10 / 13 / 2014
OPEN 1.6073
HIGH 1.6125
LOW 1.6050
CLOSED 1.6084
The third resistance (R3) 1.6125 -( 1.6086 - 1.6050 = 0.0036 x 2 = 0.0073 )= 1.6198
The second Resistance (R2) 1.6086 + 1.6125 - 1.6050 = 1.6161
First resistance (R1) 1.6086 x 2 = 3.2173 - 1.6050 = 1.6123
pivot points 1.6125 + 1.6050 + 1.6084 = 4.8259 / 3 = 1.6086
Support for the first (S1) 1.6086 x 2 = 3.2173 - 1.6125 = 1.6048
Support second (S2) 1.6086 -( 1.6125 - 1.6050 = 0.0075 ) = 1.6011
Third Support (S3) 1.6050 -( 1.6125 - 1.6086 = 0.0039 x 2 = 0.0077 )= 1.5973
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http://i57.tinypic.com/2eposwm.jpg
Pair: GBPUSD
Type of analysis: Technical
Time frame: H1
Channel line: Bearish under pivot
Fibonacci Indicator: Bullish retracement
William %R Indicator: Bullish (oversold)
Final decision: Bullish (swing high)
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The pair of sterling against the dollar difficulty in resuming the upward trend influenced by negativity offered by stochastic, which could force the price to provide more sideway trading to be able to gain positive momentum enough to pay the price to rise again, waiting to visit areas of 1.6385 initially.
We recall that stability above 1.6000 level represents a major requirement for the continuation of the proposed elevation, where breaching this level will push the price to move towards 1.5720 mainly.
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pair- gbp/usd
analysis time frame- m30
http://i60.tinypic.com/34do9k5.jpg
the price is falling down side with breaking the support at 1.6011 level and moved below the daily support level three at 1.5973. the rsi indicator is now try to moving out from the level 30. long with take profit at 1.6020 and stop loss at the 1.5070
good luck
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http://prntscr.com/4w40l9
analysis for today 10 / 14 / 2014
GBP/USD (Daily Trade)
I think the movement is still in a bullish trend
retracement (38.2%) 1.6777
Retracement (50%) 1.6769
retracement (61,8%) 1.6760
Extensions (61.8%) 1.6850
Extensions (100.0%) 1.6878
Extensions (138.2%) 1.6906
Extensions (161.8%) 1.6923
calculation based on a Fibonacci retracement then today I choose buy
