Confluences: Resistance and level 61.8 (fibonacci). Red lines: H1 levels. Gray lines: D1 levels. Like, follow me and donate for more ideas!
Base on the Fundamental Analysis, I'm still bullish on GBPUSD, although the Technical Analysis doesn't show a prominent setup of such. On the 1hourly chart(link at the bottom), there was a bullish bat pattern setup and the market check-back, just that it did have a break and close below X which can be a concern for traders who are looking for buying...
Here's an update from the last GJ post. Still short & it's looking like the pattern is playing out. Disclaimer This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s and Forex. Hence each trade setup might have different hold times, entry or exit conditions and...
GBPUSD is currently in this upwards channel but my bias is still to the downside long-term. Red thick line: Main up trend line Red dotted line: 4hr up trend line Price has tested the backside of the daily up trend line and bounced off nicely. Expecting price to go back towards the 4hr up trend line. Entry @ 1.3075-1.3100 TP @ 1.3000 After we hit the bottom of...
Went long on EURGBP, it looks perfrect for buying at the moment.
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📝 EURGBP While the single currency block continues to work together on Covid the UK is as divided as ever, from Scottish independence to the North / South divide. Faster Macro data has started to tick back down in Europe and the UK. We are going to see a decline in activity once more into November and with Brexit still to come this will hurt the UK more in...
Holding shorts as a hedge to look to take longs soon with zero risks. Lining up that fibonacci with the trendline, maybe we could see some sort of manipulation below the trendline, before looking to have a push to the upside! Holding my shorts allow me to now take longs with ZERO risks!
If you remember for the past few weeks I'd been saying that the GBPUSD is going to rise even the Brexit negotiation didn't reach a conclusion? I'm looking at 1.2984 or even a retest of the trendline for a buying opportunity on the coming week.
Having GBPUSD close on the Major Support level without breaking it does give a great opportunity to engage the trade. Its immediate resistance level is at 1.3055, I will watch closely if it is able to break and close above the level.
GBPCHF H4 - Same reasoning for EG shorts, fundamentals spiking GBP and market volume comes into play and EUR/LON markets react to weekend headlines. Still best practice to let the dust settle after such an opening. Personally like to let London morning do it's thing before looking to scout any trades out around NA/LON overlap time.
Clear structure here from the Brexit pair. In a short term downtrend which is about to meet a long term ascending trendline from the March crash. Buys and sells pretty clear here with price stuck between daily support and resistance currently. For buys, we need to break the 38.2% fib area and daily resistance and sells, we need to close below that major...
EURJPY has a series of Lower-High, on that ground I will be looking for a buying opportunity once the candle touches the trendline and did not break and close below it.
We have been seeing the pound moving up against the dollar and with the whole BREXIT situation and possible no-deal coming end of October and the spike in new Covid cases things are not looking 'great' for the Great british pound. We see price finding support at the 1.3040 level and seeing that the level already proved itself now and numerous times in the past.
Price failed to complete a fractal on 2 weekly chart and is moving away from it. Things started to go wrong in July last year...something to do with Brexit and this "wrong bias" keeps going... We see accumulation above the failed fractal and price is likely to push higher making higher high. THIS IS NO TRADE SETUP BUT GENERAL OUTLOOK TO IDENTIFY LONG TERM BIAS....