GBPUSD Short Call: Descending Trend Line meeting with converging trend lines Formation of Inverted Cup and Handle With Strong Resistance and Support at 1.37449 Entry level 1: 1.37663 (SL 1.37820,TP 1.37089) Entry Level 2: 1.37490 (SL 1.37420, TP 1.33985) Note: Concerned regarding Dow theory formations of Higher Highs and Higher Lows
Long Call Basic Dow Theory will be looking forward for Higher low 0.90992 possibly Lower Low. Stop loss at lower low i.e. 0.90992 target profit (1) 0.91206 (1:1 ratio) below R1 target Profit (2) 0.91541 just below R2
Short Call plus Cyclic Behavior Target Price at Fb levels 0.382,0.5
Basic Dow Theory Bearish Trend Entry 14928 Stop Loss Trend line 14970 Target Profit 14823
MEANWHILE SHORT WITH STOP LOSS 0.91463 TP 0.91230 Reasoning: Bearish AB=CD RSI Divergence Potential reversal point AT 0.91234
Parallel Channels for non trending markets with different entry levels and different profits levels
Short Call Entry Price 130.196 Bearish Trend Stop Loss 130.357 ( R1) Trailing Stop loss till Trend Reversal
Inverted Hammer with Green Signal at the bearish market Possibly Bottom of this Bearish trend Entry at Current Market Price Stop Loss 0.91329 Planning With Trailing Stop loss