MG Network

something big isHappening!

In the mean time you can connect with us with via:

Copyright © Money Grows Network | Theme By Gooyaabi Templates

Money Grows Network

Archive

Powered by Blogger.

Welcome To Money Grows Network

Verified By

2006 - 2019 © www.moneygrows.net

Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

Popular

Pages

Expert In

Name*


Message*

Intraday technical levels and trading recommendations on GBP/USD for October 14, 2014

gbpdaily.jpg


Note the depicted Shooting Star daily candlestick that occurred previously around 61.8% Fibonacci level. Such significant bearish pressure offered SELL positions at retesting that took place a few days later.


Note that the bullish rejection was initiated when the market pushed below 1.6100 and 1.6060 on September 9. Another bearish leg was expressed below 1.6060 (the weekly low is located around 1.5950).


On the other hand, the price zone of 1.6100-1.6140 remains a prominent SUPPLY zone to meet the pair. It applied a considerable bearish pressure on the pair on Thursday resulting in formation of an Inverted Hammer daily candlestick.


gbp4h.jpg


4H chart reveals long period of downside movement roughly maintained within the limits of the depicted channel.


A SELL entry was suggested around the price level of 1.6140. It's running in profits now (+220 pips). Stop loss can now be advanced below 1.6120 to secure some profits.


The material has been provided by InstaForex Company - www.instaforex.com