Hi there. This trade setup is follow up of the previous Longer term trade setup. We are having corrective up trend In the flat channel. Which is about to breakdown. Watch to for sell. For detailed analysis please look at the Video.
Big thumbs up to tradingview for this amazing features.
Comment
⋅
GBPUSD is still pushing for upside on lower time frame USD still slightly week across the board so keep eyes on the top as explained in the video for short.
Comment
⋅
Thats what i was anticipating on this idea. If you are in from top you did an excellent job if not in then dont worry watch for another TCP and get in the boat. here is the update.
Comment
⋅
We are still in the pattern formation. We are watching price action for selling it again. It has not change the pattern formation.
Comment
⋅
We are broken the top of the flat. But the way price is rising it is still corrective. Watch this channel breakdown and sell it. If channel do not breakdown with impulsive wave and give us another bullish wave then watch top of the channel for short.
I think GBPUSD wants to make a month-high at around 1.3487(90) (in december), then down
skyisthelimit1
⋅
@NeverNO, I think both are valid, but just the timing needs to be looked at...I agree with his analysis up to the point, that if it breaks the 4H trend line, we can see a down trend, up till the daily trend line around 1.318/1.32.
I would take profit there, and then see if it breaks through that, if it doesn't, I can also see a bounce up back to 1.33, and if it breaks, up to test 1.35.
I guess we can do a short term sell, and then a longer term buy. Depends on what happens, as of now, I am short till 1.32 because the trend line broke , although I put my stop-loss right above, so if re-tests 1.33 trendline, i'll be out right above with minimal loss.
here one of the possible scenarios f. this week and the beginning of dec.: support 1.3279, 1.326, 1.3216 ... even if all these support were broken I do not see this week 1.32 (yet), that means I expect december-high should run towards 1.3487 / 90, then fall sharply
skyisthelimit1
⋅
@NeverNO, cool, im moving my target to 1.322 before i sleep, just in case things happen your way lol. i Dont mind missing out on some profit , especially if i'm sleep...better to make some money, than to make none and regret it. thanks
NeverNO
⋅
as long as there is no closing price on a daily basis below 1.329, then I stay with my post from yesterday and today
yesterday: "NeverNO Nov 27
I think GBPUSD wants to make a month-high at around 1.3487(90) (in december), then down"
today:
...support 1.3279, 1.326, 1.3216 ... even if all these support were broken I do not see this week 1.32 (yet), that means I expect december-high should run towards 1.3487 / 90, then fall sharply
payuxosu
⋅
Thanks!
juyubu
⋅
Interesting... thanks for your view on this...
furosugb
⋅
thank you, great analysis!
NeverNO
⋅
@ chocotraders
yes, right - diagonal... in that case I can imagine something like that ... in january - for short time outside of the diagonal... and then down ...
NeverNO
⋅
@NeverNO,
the yellow 1 should be moved a bit to the left ... above 2017-10-13