ABCD move with CTL into heavy confluence

27 gen 2016

I've moved my trade across from GBPUSD to GBPJPY with the looming FOMC etc later this afternoon.

ABCD with CTL breaks on the way up.

Bulls appear to be in control, collecting stops on the way up.

Confluence
- D1 completion (127% Fib extension of AB)
- 161.8% Fib inversion of BC
- 161.8% Fib extension of part CD move
- Previous Weekly high
- 127.00 round psychological round number

28 gen 2016

Nota

UPDATE:

Potential falling wedge on the H4.