Hello!
Excuse me that I publish 2 posts in a small period of time - I do it only during the flat on the market.
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Take a look at the picture - anything just like I planned. Pleasant thing to watch.
The next step is to continue trading, and now while the price will decide where to move next, we will analyze where it will go, and then follow it
Simple, isn't it?
The 1st variant that comes to my mind is, that this ascending movement was a correction. Also I want you to mention divergence in the last bullish jerk. Because of all these points, I think that now we have to watch the price very carefully - it may begin new descending wave at any moment. I will not sell though until the price will breakdown 233 MA. It is the most important support at the moment.
I will think about buy trades, only after breakout of the red resistance line, or after a correction.
For now it is all, I hope that it will help you.
Best Regards,
Anthony Schneider.
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Original post - Forex blog: Dow Jones, Elliot, News and all other kinds of trading!: GBPJPY The next step