26 Apr '21: GBPUSD Entry (1D)

The daily candle forming up rejected off a zone I was watching. To keep moving up on this run, price would have had to breakthrough and then clear this zone. However, I am still bullish, looking at the long-term weekly trend and a final target around 1.43. Looking for a re-entry in the zones indicated. SL also is noted. Of interest is a S/R line on the Stoch which may indicate the bounce and is turning up. I am hoping for an entry under 1.38 in the next couple of days before another big step up. Looking for an eventual B/R of 1.39901 this week or next to confirm trend continuation.

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This one broke down hard on 30Apr, and stopped exactly where I called it (low: 0.00006 above the top of Zone #2; close: 0.00003 above the bottom of Zone #1), though the entry took more than a couple of days. There's reason to believe DXY could run further, especially on the monthly time frame. A fresh entry at this point might do best by wick hunting for an entry on lower time frames and/or raising of the SL to ~1.379 to guard against a break in the weekly trend that has carried GBPUSD for months. The short-term target may need to tighten up, too, to the neighborhood of the monthly S/R at ~1.39117.

Will assess DXY before the new week starts.

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Have had a better time with this one so far than my USDCAD call, though the USDCAD call is newer, and may still play out. DXY appears to be getting flagged up for a pump, which could lead to a break down from or push through the weekly trend line. Over the past four days or so, this call has played out almost perfectly.

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Those momentum bounces have played out as expected on the Stoch.

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Exactly two weeks after the call, the anticipated breakout:

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Looks like the break down from the last distribution also nixed the weekly trend here, too. Time to reassess what the bears are doing!