M6B [03.2019] Analysis British Pound

On a daily basis, the 6B put down a Strairway on a daily basis at the beginning of the year. On a monthly basis, however, there was already a Stairway pattern in December (chart bottom right).

The daily chart has led the market to the Daily200 and bounced off it.

If you look at the weekly chart, the market has caught itself on the Weekly20 and has turned again in the long direction. At the moment we have a strong support from the month and week, which also proves the today’s candle.

From the LP point of view, you should put the 6B on the WatchList and wait until it comes to a long retracement at one of the daily LocationPoints. Then it would be a good time to get in and aim for a target of about 1.3500.

 

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HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.

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