The Pound Hong Kong Dollar.

Good morning Dynamic Traders,

Todays chart is of the GBPHKD, and as can be seen from the image below, AdvancedGet is showing a wave 5 in progress with price currently at the MOB and TJ's elipse coming down to meet it.

There is also a fibonacci cluster of retracement and extension in the vacinity with a strong former R/S line just north.

MACD is showing longer and shorter term divergences, which all add up to a possible retracement close at hand.

Wait for confirmations and plan your entry, but contradicting this is possible strength in the move and so should a break north occur above these levels then use your Dynamic Trader filters to enter accordingly.

As always please ensure to do your own analysis before trading.

Due to NFP there will be no update tomorrow.
















Charts courtesy of AdvancedGet.

Have fun.

Clayton Farnworth.