Looking at the daily timeframe on the pound dollar, it has quite a clear picture supporting the weekly chart bias of bullishness. Particularly pulling my ICT Fibbonaci from the failure swing that was created at 1.20628 to the recent swing high 1.2429that shifted the market structure to bullish perspective, price reacted to the discount levels of 0.79% and 0.705% with a Morning star candlestick pattern indicating the underlying bullish momentum and willingness of price to go higher.
If price has to respect the fib level the we should see a complete bull run to the furthest extension of the ICT fib at -1.0 level, pricing in at 1.2800. So far as of last week, price has only made it to target 1 of the ICT fib which is the -0.25 extension level.
On the safe side short term targets would be Target 2 which is the next fib extension target at -0.62 1.2653
Looking at the TDI oscillator, the market baseline(yellow) is slanting upwards with the RSI line (green) and Signal line (red) staying above it since oct 10th. This indicates the underlying bullish sentiment and gives me confident on staying bullish.
If price has to respect the fib level the we should see a complete bull run to the furthest extension of the ICT fib at -1.0 level, pricing in at 1.2800. So far as of last week, price has only made it to target 1 of the ICT fib which is the -0.25 extension level.
On the safe side short term targets would be Target 2 which is the next fib extension target at -0.62 1.2653
Looking at the TDI oscillator, the market baseline(yellow) is slanting upwards with the RSI line (green) and Signal line (red) staying above it since oct 10th. This indicates the underlying bullish sentiment and gives me confident on staying bullish.
