03 Maret 2017, GBP/USD
Daily chart: ADX is very aggressive, at any time now the pair may start declining at accelerated pace towards 1.2142.
Н4: here we are observing locally oversold market and corrective ADX. Lower Bollinger envelope range is not likely to change during the day (1.2204-1.2338)
Н1: more localized corridor is 1.2251-1.2287 (Bollinger bands). However, ADX is growing, envelopes are narrowing down so it's not recommended entering long.
Expectations:
Core scenario - flat within 1.2251-1.2287
Alternative scenario - drop to 1.2204
Solutions: look for downward entries towards 1.2204 (presumably from 1.2287)