STERLING DOLLAR REACHING A CRITICAL LEVEL
its been so long that i haven't make any analysis BUT we are back to work worrier traders
$GBPUSD is trading near 2019 low, but it is not the right time to buy dips i rather prefer sell rally based on my analysis and my view point you take your own risk to trade this is not a trading signal it is my own view and i will take my own risk to do it ....
since the beginning of this year 2019 the pair make a range of 1000pip from 1.2375 to 1.3375
when the pair trade near 2019 highs a great diagonal formation formed and a great fib ext target confirmation built to exist the diagonal down and make a new 2019 nigh BUT!!!! to where the price might do this is the question ?
as you can see on the chart another great diagonal is building (we may be wrong) and a tremendous fib ext target developed
traders are aggressively long as the pair is approaching 2019 low
1-can they build more !!! if yes then the price will continue lower ( my favorite scenario)
2-can they close their long position then price will move higher
i choose first option because of the psychological nature of human being ( fear VS greed )
we may see 50% ext target and 61% ext is better then i will start to build my long journey
GBPUSD
https://www.tradingview.com/chart/sbtukLEv/#
$GBPUSD is trading near 2019 low, but it is not the right time to buy dips i rather prefer sell rally based on my analysis and my view point you take your own risk to trade this is not a trading signal it is my own view and i will take my own risk to do it ....
since the beginning of this year 2019 the pair make a range of 1000pip from 1.2375 to 1.3375
when the pair trade near 2019 highs a great diagonal formation formed and a great fib ext target confirmation built to exist the diagonal down and make a new 2019 nigh BUT!!!! to where the price might do this is the question ?
as you can see on the chart another great diagonal is building (we may be wrong) and a tremendous fib ext target developed
traders are aggressively long as the pair is approaching 2019 low
1-can they build more !!! if yes then the price will continue lower ( my favorite scenario)
2-can they close their long position then price will move higher
i choose first option because of the psychological nature of human being ( fear VS greed )
we may see 50% ext target and 61% ext is better then i will start to build my long journey
GBPUSD
https://www.tradingview.com/chart/sbtukLEv/#
Trade active
Comment:
this week a tremendous double top formed and we still have down move target 2% ext it might not touch today but any retrace higher will give me a great chance to sell
Comment:
the 2% has been hit and next downside was 2.618 i thought that we will not get the 2% today but as i can see the downtrend momentum is tremendous strong
nothing to say but any move up is an opportunity for sell ( for me i already sold and building up my short as accumulation method)
as long as you are buying dips i will sell high .
nothing to say but any move up is an opportunity for sell ( for me i already sold and building up my short as accumulation method)
as long as you are buying dips i will sell high .
Trade active:
since the beginning of the day the market trade lower to make a significant divergence on macd @1.2380 around 2019 low (yearly low)
so can we see a retrace higher so we can find a new selling opportunity or we will make triple divergence and stop sucking method where the market may bleed lower tremendously toward 1.2288
so can we see a retrace higher so we can find a new selling opportunity or we will make triple divergence and stop sucking method where the market may bleed lower tremendously toward 1.2288
Comment:
we develop a great downside channel and i think it will be intact and the price will not break the upper boarder because the gbpusd still under pressure
Comment:
None Commercial Traders Still Heavy Short
Downside Pressure Still Active
Downside Pressure Still Active
Trade active:
Today Is The Conservative Leadership Announcement ....
Trade Safe, We May See A Strong Move As Much As Before 3 Years Do You Remember!!
Trade Safe, We May See A Strong Move As Much As Before 3 Years Do You Remember!!
Trade active:
Descending Channel Sill Intact ATM, Tremendous Respect Of The New Trend line resistant In Which It Give Us A New Opportunity And Putting More Downside Pressure On Sterling
Trade active:
Sterling Today Moved Up To Give Us A Tremendous Opportunity To Sell Rally Near The Upper Boarder Of Our Descending Channel(magenta color) We Will Ride The Down Move Toward The Lower Boarder Of The Descending Channel .....
Nonetheless, After The Break Of A New Trend line Resistant We Know That Some Down Pressure Relief Will Happen, And Guess What We Was Right, BUT BUT BUT!!! After This Rally Sterling Give Us A Tremendous SELL Opportunity
Nonetheless, After The Break Of A New Trend line Resistant We Know That Some Down Pressure Relief Will Happen, And Guess What We Was Right, BUT BUT BUT!!! After This Rally Sterling Give Us A Tremendous SELL Opportunity
Trade active:
How Lovely...The Sterling Dollar Reached another Time The Magenta Trend Line Resistance Forming A Double Top In Combined With Previous day high, This Data Give Us A Further Downside Potential ....
What Do You Think ?????
What Do You Think ?????
Trade active:
Sterling is our friend
after that double top formation we saw a great potential for down move, our target has been hit
after that double top formation we saw a great potential for down move, our target has been hit
Trade active:
OMG!!!!
Sterling Break Our Target 61.8 %
Do I Have To Update It ???
Case Closed We Are Out Of Our Sterling Trade
We Will See What Will Happened At These Levels Till Then TRADE SAFE
Sterling Break Our Target 61.8 %
Do I Have To Update It ???
Case Closed We Are Out Of Our Sterling Trade
We Will See What Will Happened At These Levels Till Then TRADE SAFE
Trade closed: target reached:
TARGET REACHED