GBPJPY, BITCOIN, GBPUSD Analysis And Trade Set Ups
Hello Guys, in todays video i cover Bitcoin, GBPJPY & GBPUSD. If you haven't done so already please go and watch out previous videos on these pairs as i have documented the trade updates throughout so far.
GBPUSD: Looking to ultimately acquire a short position if price can provide us further bearish momentum and produce a type 1,2 or 3 entry. I will not be selling purely based on a weekly rejection or break of a trend alone. If we do get the bearish momentum step in, i believe we are set to see some explosive moves to the down side on this pair. I also cross-referenced the GBPUSD with the DXY to outline the recent momentum shift the USD has recently had. A continuation of this bullish USD should provide us with further confirmation for the GBPUSD Short trade idea.
GBPJPY: So far this trade is up 28 R or 28 % (which ever you work in) This has been made possible from scaling into our initial GBPJPY position to acquire a total of three long positions in this GBPJPY long trade. We wasn't able to add further positions due to the very strong bullish market. I did mention in the video we are likely to see some consolidation or even a pull back due to the consecutive bullish weeks. This price behaviour is not consistent with recent price behaviour and when pice has showed this sort of strong momentum in the past we normally get a strong reversal or consolidation before moving higher. We will continue to hold until we are stopped or our target is hit, obviously we are looking to hit our take profit before the pull back happens. However we still stand to bank some decent % on the first two entries if price does decide to reverse before.
BITCOIN: Bitcoin has been extra volatile over the past few months due to traders calling the end, but not convincing enough to confirm the bull run is over yet. We noticed a perfect type 1 entry last week and we posted this trade update showing our second entry into bitcoin with the possibility of further long entries. We was unable to get any further entries (type 2 or 3 entry) in this case but we are still long with a total of two long positions in Bitcoin. We are still looking to add more to this long trade on the next pull back. But only if we get the relevant pattern and higher time frame confirmation for entry.
We hope you have enjoyed todays video, if you have enjoyed todays video and huge found value in our outlook and break down of these trade ideas please show your support by liking and following us on Trading View.
Until next time, trade safe! :)
GBPUSD: Looking to ultimately acquire a short position if price can provide us further bearish momentum and produce a type 1,2 or 3 entry. I will not be selling purely based on a weekly rejection or break of a trend alone. If we do get the bearish momentum step in, i believe we are set to see some explosive moves to the down side on this pair. I also cross-referenced the GBPUSD with the DXY to outline the recent momentum shift the USD has recently had. A continuation of this bullish USD should provide us with further confirmation for the GBPUSD Short trade idea.
GBPJPY: So far this trade is up 28 R or 28 % (which ever you work in) This has been made possible from scaling into our initial GBPJPY position to acquire a total of three long positions in this GBPJPY long trade. We wasn't able to add further positions due to the very strong bullish market. I did mention in the video we are likely to see some consolidation or even a pull back due to the consecutive bullish weeks. This price behaviour is not consistent with recent price behaviour and when pice has showed this sort of strong momentum in the past we normally get a strong reversal or consolidation before moving higher. We will continue to hold until we are stopped or our target is hit, obviously we are looking to hit our take profit before the pull back happens. However we still stand to bank some decent % on the first two entries if price does decide to reverse before.
BITCOIN: Bitcoin has been extra volatile over the past few months due to traders calling the end, but not convincing enough to confirm the bull run is over yet. We noticed a perfect type 1 entry last week and we posted this trade update showing our second entry into bitcoin with the possibility of further long entries. We was unable to get any further entries (type 2 or 3 entry) in this case but we are still long with a total of two long positions in Bitcoin. We are still looking to add more to this long trade on the next pull back. But only if we get the relevant pattern and higher time frame confirmation for entry.
We hope you have enjoyed todays video, if you have enjoyed todays video and huge found value in our outlook and break down of these trade ideas please show your support by liking and following us on Trading View.
Until next time, trade safe! :)
