Dynamic Trader Forex Blog FXCPS.co.uk: GBP cresendo

Good Evening / Morning Dynamic Traders

"Better to have tried and failed, than not tried at all"

Cross = GBP : 240 Chart (Posted Below)

With another red candle yesterday (Thursday) where is price looking to move to next.

On the 240 chart below we have price at the eclipse of wave 2-3 and we have the MOB inserted above with the intention of the wave 5 passing through this point.

Note also the major RN sat above the MOB

You will see on this time frame we have been in an up trend since 11th March and if you take a measurement from the low of 18th March we are nicely turned at a breather level.

Add to all this the confluence of Stochastic s at its lowest, yet not quite turned as I write and we seem to be setting up for a further move upwards.

I am sorry that this cross has not as yet given the profits we were expecting this week, but maybe this anticipated move will compensate for that.

As always do your own analysis before entering a trade and use a stop .

Have a great week end, take time to assess your trades of the week and look ahead with what next week could have in store.