I'm looking to grab a piece from this opportunity.
Reason for entry: Cypher completion D
Price failed to close below bullish trendline despite several attempts.
Double bottom in area of cypher D closed the deal for me.
Entered long at 1.29800
Target based on 38.2 fib of C-D leg (adjusted for ...
Technically EURGBP is overvalued, trading outside 800 period BB on the daily chart.
Long term bearish divergence is seen towards 0.90 and 0.92.
Targets = 0.86 (missed monthly pivot) and 0.81 (missed monthly pivot) with profit being taken every 100 pips along the way to these targets.
Fundamentally the Euro ...
Note and Remember this idea is technical not fundamentally ,
According to Techincal , It`s down move 3000 pips and make flag pattern and then it`s down 3000 pips also reached and now flag pattern complete , Now time gbp going up ,,,,,
- good reversal pattern.
- price sat at good support.
- recent break of downward trendline, now retesting.
- 0.5 Fib retracement level from previous swing low to high
- Trending against the trend
- Trading through EMA's including 50EMA on daily.
Thoughts? Please comment below
To me the GBPJPY has been correcting it's huge move up, from Jan 2012 to June 2015 - The question is... is the correction over or do we need another zigzag and wave C. Right now I think a break of the first trend line and target the second one.
With NZD still struggling to make any consistent good data and CPI expected to fall again this week we expect to see a huge relief rally on this downside against the GBP. This is a longer term trade and will probably last for a few weeks so trading it at smaller lot sizes to accommodate the large stop loss is ...
For the first time this year the C.O.T. report is showing long positions are higher than shorts amongst non commercial traders. This is a clear sign that long term sentiment is changing.. Although we are likely to see the 15000 level tested again and a possible dip towards the 14600 support it is time to start ...