DiNapoli Levels - GBP.USD - 03.21.10 GMT
March 21, 2010 9:52 AM
GBP.USD -
Looking at a weekly chart, the pair's high at 1.5381 was still below the 3x3 on thrust and forecasted "K" confluence at 1.5420.
As there was a possible watch for a weekly B&B bearish directional, a quick look on a daily chart illustrates on the 17th where price was near the daily overbought level at 1.5391 before retreating bearish.
What does this mean? d-level players looking at long term opportunities with a 'bushes' strategy consideration might have been able to manage risk on a shorting opportunity behind "K" and daily overbought while looking for entries that might form intraday as a thought.
Where are we now?
From a long term perspective, will monthly bullish directional agreement referred to in earlier posts hold? The weekly trend has been strongly bearish and see if it pushes past 1.4783 as a prior weekly low.
From a daily perspective, we ended last week closing just above an F5 node. Note the daily trend is up with the stochastics just making its way down. A possible bullish fade to consider?
Note the intraday bearish thrust we had on the 4 hr down to F5 (1.5011) with consolidation on lower time frames.
Economic Releases: 22nd, March GMT
- 21:30 USD Treasury Sec Geithner Speaks
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To compliment our posting, we've included modules 5 & 5B from our Free eCourse below, providing some insight on trading accounts and platforms that we support containing DiNapoli tools.
* Note our posts are purely for educational purposes and not to be taken as an advisory for
investments or trade recommendation. d-level traders are welcome to use this analysis as
an educational means to develop their own hypothesis while trading.
Read our risk disclosure for clarification.
