Price is right now at a daily Supply Zone. I expect the price to drop. To make a correction before continuing with the overall Up Trend. But wait for price action to confirm the drop/correction.
So price should drop now to the Demand Zone. Afterwards a big buy.
I will make another analysis for my long therm target on GBPJPY
I hope you all enjoy my Analysis....
Out of all of the pairs this is fundamentally the most unpredictable. I think that playing around with the pound this week is risky and manipulation could occur and be obvious. Always remember there's no limit to how many fake outs can happen with a setup so make sure you wait until it has confirmed the true direction of price action. We'll be favoring a weaker...
A very quick idea update here after a conversation with 'ikovachky' in the Forex chat room.
We are approaching the end of the road with Brexit and timing wise it is finally time to get to work on selling the currency again. The Pound is only going one way with a Hard Brexit and if you are a believer in the bearish UK story, then you know exactly what to do here....
On December 15, the United States will not increase tariffs on Chinese goods.The reason is that the negotiation process between the US and
China continues. The news was supposed to provoke sales in safe-haven assets, but it did not happen. That only confirmed our recommendation to look for points for buying gold and the Japanese yen on the intraday...
As we continue wave (V) on polls suggesting Tories winning, there is still indecision for now as investors wait for the results. End target is still 1.34.
Tories winning should be positive for GBP while hung Parliament would plunge it first. Final FOMC today would create volatility in the pair, but election should be the priority for investors.
-In the daily chart: Price action has consolidated into a rangebound symmetrical triangle, this usually symbolises continuation (to the upside) but I do not discount the possibility of a short if we fail to breakout long and in-turn breakout in the opposite direction.
Identifying a breakout: In this case price has had bullish candles deviate outside of...
In yesterday’s review, we already noted that this week may be decisive for several financial assets, and the global economy as a whole.
On December 15, the United States may introduce tariffs on goods from China and thus bring trade wars to a new level. It's entirely up to an agreement between the parties. Even though we have heard positive statements for more...
All the necessary details about the short are in the image itself.
We used our 5 step analysis process to locate this trade,
1. Locate a pattern, in this case a contraction of price which indicates that selling might occur.
2. We then located the general trend, its bullish and usually before major events a basic strategy we employ is buy the rumor sell the...
A golden trading opportunity for this upcoming second Brexit referendum on 12Dec19, yes you hear me right. It is no different to a second referendum when 1 party is pro-Brexit and another party is pro-Brestay.
The UK people have another chance to vote what their heart desire, to stay in the EU or to leave.
How the market will move, I've shared on my previous...
A decent move could be cooking on EURGBP for upside, price action seems to have formed a contraction and with RSI at the over-sold area for a few days now we could see a move up to the 50 or 61% of the contraction.
There is a bigger than normal risk trading this asset (the GBP mainly) because of the upcoming important vote on Wednesday... of-course that could...
This pair is an ongoing swing trade.
This pair may take a little bit of time to fully hit all TPs. At the moment, it looks like it's due for a pullback according to the weekly.
I'm still looking for the overall move to remain bullish. But let's see how long the pullback will last before it continues on upward.
Remember, I said it's due on the weekly. This...
A bearish crab trading opportunity presents itself for a countertrend setup. A candle confirmation is required to engage this trade as that's how crab pattern are traded and this setup is above the supply zone.
Short Selling Idea
from : 1.2929 - 1.2905
TP1 : 1.2710
TP2 : 1.2520
Stop Loss : 1.3040
This is not an investment recommendation or any call to buy or sell
It is just an analysis based on a study of the history of price action
Behavior , that may not be a necessarily reason for the success of
the structure or repetition. So please make your decision based on...