Talking Points:
GBPUSD Technical Strategy: Keeping Bearish view
Elliottwave Count: ZigZag Correction will be our primary choice in count
GBPUSD Start showing divergence on daily bearish trenline and 240min newly created bullish trendline. Current level 1.4650-1.4700 is 100% expansion of zigzag and also testing horizontal resistance.
Long term trend...
After an extended decline since the 2015 high, it appears like GBPAUD has hit rock bottom.
I'm long from 1.85243, and added today at 1.85526.
I expect price to retest the low volume resistance at 2.00 in the intermediate term, and possibly aim for new highs if we break this level in time.
If you're not in the trade, try to enter at market with a 3 times the daily...
GBPAUD is tracing a nice steady downtrend, and recently has formed a nice consolidation, which has given way to a time at mode downtrend setup.
We can go short here, odds are very nice and we have a lofty target to benefit from if the trade works.
Entry is at market and stop losses should be 1-3 ATR, or placed above 1.85541.
If interested in my trading signals,...
Pound is continously dragged down by Brexit fears and soft BoE comments, hence the larger trend is still bearish. However CPI 's are picking up in the UK limiting the space for further dovishness of the Bank of England.
Note: not a particularly high probability setup. Recent high volatility can lead to a quick stop out or a T/P reach.
The Pound has been supported, while tracing a triangle, which is characterized by the lack of a clear trend direction.
Rgmov has been in a downtrend, suggesting that every overbought rally was a short, which has been the case.
Currently, price is breaking below the weekly mode, which is 11 weeks long, and soon to be 12 after this week's close (unless we expand the...
Not a trade but simply our thoughts. If 14060-80 area hold on a daily close bases then It will Bounce for for 150-200 pips and above. If not then next area of support coming around 13870.
Very nice potential longs setting up here, next week we might get nice confirmation to add to longs.
For now, this is a rather low risk entry, going with the trend in the daily. Risk half on each.
Short term timeframes show good momentum building up, and I see equities continuing to be bullish for a little more upside (S&P500 to retest the downtrend mode at 2082...
Simple, price at 52 week EMA, if we close under the mode this week, this will start a 16 week downtrend.
We can use an extremely tight stop producing a 27:1 r/r trade if we reach the extreme target.
Good luck!
Ivan.
Price action heads towards 1.44 for a test or the daily trend line and resistance at 1.44.
Looking ahead we have BOE governor Mark Carney speaking on Tuesday and UK Manufacturing data out Wednesday and both can be seen as catalysts events to drive price above 1.44 or back down.
Look out for each news event as equally appealing trading opportunities are likely to...
Let's see if GBPAUD has what it takes to fight all the bearish signals on chart, and break above the previous downtrend mode resistance.
The weekly chart offers a time at mode uptrend expiration signal, which suggests price can retest the mode at 1.94578 in 14 weeks or less.
In the daily, off the recent swing low, an uptrend signal formed, but it has already...
I have gone long the EUR/GBP due to confluence with fundamental central bank policy from the Bank of England and bouncing from a decent level of prior resistance turned support. This trade offers a good risk reward scenario also.
EURGBP is tracing a nice uptrend in the daily.
We have opportunity to join it at this juncture.
If the trades on chart aren't filled, we will have to enter using either a lower timeframe or a new high, (I'd rather take lower timeframe entries honestly).
This is a good hedge against EURUSD short positions.
At this point the Euro has minimal upside left, if any, vs...
This is a chart mostly meant for analysis and forecasting, but you could also look to trade it using ETF options, for example selling calls/puts, or if trading the monthly, you could go with a 374 or 400 pip stop.
The risk vs reward is really high, even if you do use this stop loss size.
It's not meant for anyone, mostly an investor or longer term trader would...
The Cable was killed last week as markets rattled on China fears and US Non Farm Payrolls trumped expectations. Pair finished the week below a descending triangle bottom marked by the 2015 lows and looks set to continue lower over the coming weeks. Initial target is the 1.236 extension of April - June 2015 around 1.4240, this extension coincides with the 2011 lows...
The GBPNZD pair has been in a strong uptrend, and after topping in August 24th, when the stock market bottomed after flash crashing, endured a lengthy correction.
The time for this correction now matches the time the advance took to form, and we're close to a perfect 0.618 retracement of it, which nicely lines up with many time at mode elements suggesting a long...
GBPAUD is approaching the yearly MA, and also about to complete a downtrend signal in the daily chart.
It's possible that shorts will be unwound soon, by year end, we might see a large short squeeze rally in this pair, and maybe even the opening of new institutional longs for the new quarter.
I'm really interested in entering with the tightest stop possible, so...
