The daily and the 4hr MACD trend is still bullish regardless the consolidations for over 16 hours.
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Friday, January 15, 2010
GBPJPY - POSITIVE DIVERGENCE ON WEEKLY PIVOT
Good morning.
The daily and the 4hr MACD trend is still bullish regardless the consolidations for over 16 hours.
I expect a rally after a positive divergence on a major weekly resistant line. Having formed a swing high with MACD signal line turning BUY on the 15min chart below then i would suggest a buy at 149.01 for a 100pips with 100pips stoploss, trailing stop at 50pips profit may be suitable.
The daily and the 4hr MACD trend is still bullish regardless the consolidations for over 16 hours.
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