The British pound against the dollar continues its bearish movement after it managed to breach the support level 1.3060, and reached the next target 1.3000, where trading settled near it. Therefore, the opportunity exists for the continuation of the descending path towards the next support 1.2950, as the price's success …
#MCD
The ascendant wave structure is truncated. Awesome Oscillator indicates bearish divergence, and Stochastic Oscillator signals overbought conditions.
Trading idea:
Sell when the descendant wave structure forms, where the wave (A) breaches through the inclined channel of the ascendant truncated structure.
Stop-loss: 255.60.
Target levels: 236.31; 218.00.
The general trend is ascendant. The descendant wave structure is truncated. Awesome Oscillator indicates bullish divergence, and Stochastic Oscillator signals oversold conditions. The currency pair is traded in the lower border span of the ascendant price channel.
Trading idea:
Buy when the ascendant wave structure forms, where …
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