November 29 GBPUSD chart analysis

Nov 29, 2019

Hello


It’s BitcoinGuide.

Recently, FX market has been quite tricky.


It’s because the whole direction is not decided yet.


Above all, we are in drifting sideways.


And today I brought an item that might be profitable.


So please “Follow” me and press “Likes.


Now let me begin GBPUSD chart analysis for November 29.







This is AUDUSD chart analysis for yesterday.

I’ve expected short position just as the “sad face” line.


But it broke out the above converging section, and went upward according to route A.
And finally it went above the final parallel resistance line.


I saw one of you operated with route A according to the analysis,congratulations~


For me, I closed my short position.







Today I brought 30M chart for GBPUSD.


Once again, the price seems to attract people for long position.

It is the third time.


As you can see above, the blue and purple line is weekly chart’s parallel resistance line.


This time, it has much possibility that it would fall right after touching.


Just in case, I brought a strategy for uptrend wave and downtrend wave.


To briefly summarize,


1. Please check route A(long position) and B(short position) with entry points and prices.

2. If it moves along with route A, check whether the price goes down below long position entry point / green trend line.
(If it does, join with route B)

3. If the price goes toward route A, check if it goes above the final green parallel resistance line.
(As the parallel resistance lines are stacked, a shooting would occur if it goes above)

4. When moving along with route B, check whether it touches the Bollinger band resistance line based on 30M chart.
(If it touches, close for the day / as the major position is above the cloud, it has much chance of slow downtrend rather than radical drop)


Please keep your eye on the above triangular converging section.


Hope you do the good trading.
Have a nice weekend

And I will come back to you with more attractive strategy next Monday.

Thank you.