Forex forecast 01/12/2017 first december

Look this picture ,It is daily chart.It shows Highest high is1.03395 and low is .94137, 61% retracement is .9987

 the trend is

Here the trend is down and its corrected down @61% retracement. It is the suitable for sell entry with target .9413 and stop loss at 78% fibbos point. The trend will continue for certain period down

Now in 4 hrs chart.
we will go for SR at this time frame

Its 4 hrs time frame  We will look for Support and Resistance to find Pullback and retracement

Here we see price are pulled back to down trend Stochastic supports the pullback.

Now go for 1hr time frame ,It is the Holding time frame for trade.Price has brokern to Both MA, and gone down. So its time to sell with tight SL

1 hr time frame

GBP/USD H4 chart

This is GBP/USD H4 chart it shows recent highes 1.3127 and lows 1.2814, Highest was 14.07.2017 lowest was 12.07.2017  we expected that price will retrace 61% level 1.2930, after 7 days at 20.07.2017 price touch 1.2930 and retrace back to previous trend.

 

GBP-USD 15 min chart trend in 14july 2017

Look at the chart .
It shows price action chart .It shows price action chart of GBP/USD 45 days.Highest point is 1.3030 it is the resistance ,Lowest point is 1.2802. It is the support . Long term trend from the daily chart is up. Here the another important resistance is 1.2982.Here trend is up and short term trend is in correction, If price can break the resistance of 1.2982 then the next resistance will be 1.3030, If price can break the price the trend will be up again.

The moving agerage says up trend but the Stochastic Divergence shows upcomming divergence which will retrace upto 1.2880@ 61.8% level. SO I have placed Sell with stop loss 1.3050 and Take profit 1.2900. After unfolding I will Buy 1.2900 along the long term trend.

NB:

 

Why I also failed today in forex.

Look monthly chart H 1.5994, l0.8250, trend is down,

Look at the weekly chart, high 1.3985,low 1.0350, trend is down,there is tripple bottom

Look at chart, 1hr chart, it breaks previous high and retest on it,here trend is up,it will persist for days, I put sell order.

that is all why i failed.

Why I failed in forex trading

Look at daily chart. high is 1.1161 low is1.0301 it indicates support is 1.0301 and resistance is 1.1161 trend is down.61.8% retracement is 1.0987, So it is strong resistance. there is possiblity to retrace back to down after touching that resistance level. So now temporary uptrend thurst is approximately 223 pips.

 

Look at 4hrs chart. 

It is also uptrend no strong SR near here. So expected price of reversal is 1.098 if it breaks then the next level is 11.1161 strongest Resistance.So 4hrs trend also up,

above mentioned all are probabilities , anything can be happen. with thanks.