The Pound Hong Kong Dollar.

Good evening Dynamic Traders,

Tonights chart is of the GBPHKD.

Although price has been in a long consolidation after the move up, the longer and medium term trends are still up whilst the shorter is down but looks to be gaining momentum for a possible cross up but not there yet.

Price is producing a kind of bullish flag but not a good example by any means and the RSI is pointing up, but the V.I. is just below.

Price has recently closed in the breather zone of this currnt move up, with a doji candle yesterday and the HTF has the V.I. within reach.

However should this move up occur there are obstacles to be overcome, some being the resistances and recent top shown on the chart, which are also in proximity to the strong figure.

An aggressive stance here could look to go long with a correct calculated entry but I am still missing some confluences to be in accordance with my TP.

The better and safer option is to wait for the consolidation parameters to be exceeded.

As always please ensure to do your own analysis before taking any trades.

Charts courtesy of AdvancedGet.

Good luck.

Clayton Farnworth.

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.