We are currently on a downtrend, and of course as a trader i want the wind on my back. I set up pending sell order @1.2272 with a stop loss of about 50 pips and profit of 150 pips. Let's see if my wave count works
GBPUSD H4 CHART
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OANDA:GBPUSD
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Disclaimer: These are only an idea or a point of view of what will happen in the market. Please do your own analysis and do not copy blindly. I will not be responsible for any losses if you follow the idea. These ideas are meant for sharing and learning....
GBPUSD trading in downtrend line
price rejected from key level around 1.23000
price below SMA 100
MACD shows bearish momentum
RSI trading in downtrend line below 50
price forming AB=CD pattern
so its expect further selling to pattern target at 200% fibo around 1.20500
then to support level around 1.19000
Very simply strategy, the chart speaks for itself.
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Darren
Blue FX
GBPUSD H2 CHART
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If you have another analysis at this pair, please share in comments, I will be glad to discuss with you.
Mam wrażenie, że dużo osób czeka już na wzrosty na kablu, a ja odnoszę wrażenie, że jeszcze nam przyjdzie poczekać na to;)
Będe ten setup rozgrywać jak zaistnieją do tego odpowiednie warunki, co widać też na wykresie
Price has ranged well through this descending channel all week, with price bottoming out today before coming back up for a correction. Looking for a retest of upper channel levels before the trend continues.
According to my wave count analysis on my 4 hour chart GBP/USD market is going up, even dough, there is a break out already in the parallel channel bottom line , market has to test that last bottom resistance level. Stochastic indicator is showing bullish divergence and RSI in the oversold area
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GBPUSD H4 CHART
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If you have another analysis at this pair, please share in comments, I will be glad to discuss with you.
GBPUSD broke uptrend line ,retested it
price rejected from SMA 100
MACD shows bullish momentum weakness
RSI below 50
if price broken HVN around 1.23940
it will confirming bearish movement to demand zone around 1.22000
