Bears are in control but we might get relief rally before going down
Looks like the whole europe and its economy is collapsing when you look at eur/usd and gbp/usd or any currency here. Obviously after that the rest of the west and world but usd might get stronger for a short time, but when economy crashes everything goes down, so my buy and sell orders are...
TECHNICAL ANALYSIS:
-The price started following a long SIDE CHANNEL, constantly bouncing on the resistance and support.
-At the beginning of December, a strong MOMENTUM pushed the price up in a Bullish Movement, reaching the point at 1.35000, historical level of support, it was several time a reversal point.
-The price CLOSED the Third bounce with a clear...
First time in Forex!
GBP looks to be setting up a double top. I bought at the orange line, but a safer buy would be confirmed break below the neckline (blue line). The double top target lands right at the green horizontal line, which is major support. Stop can be pretty tight. This is why I chose this trade, it has a great risk to reward! Hopefully the first...
Hi guys this is the first idea I'm sharing here, it seem like this could be a trend continuation, the pound could retrace to the 0.382 fib retracement and bounce back to a new Higher High (mind the news though) at the Fib Extension 1.272
let me know what you think any advise is welcome. Cheers.
Happy trading.
GBPUSD in bearish triangle scenario, still valid in Cypher pattern in my view.
Invalidation wave count CLOSE above 1.44850 (Fib extension 1.414)
Plan A - Target 1.41000 (Stop loss above 18 March high)
Plan B - Order buy 1.41000 Target 1) 1.42300 Target 2) 1.43100
This is for my trade journal only feel free to comment.
