DISCLAIMER: Hi everyone, this is just a log book for me on applying everything that I have learned and continue to learn as I go along. That being said, I do not advise you to base your trading on these "ideas". Ok, so this week I managed to make all the trading mistakes in the book. Took huge losses but somehow that fuels me up to make bigger gains and get back...
I am looking that GBPUSD is on a strong downtrend but it is trying to re-test the highs of the channel. It is making a nice rebound from the lower part of the Bollinger band so if it breaks the channel, we may see a long uptrend. Let's see, I am adding a SHORT if it fails to break the channel but most likely scenario will be it will go up.
The common European currency has broken through a dominant resistance line against the British Pound. Moreover, the currency pair has clearly broken away from the level of significance and already made an attempt to break the resistance of the monthly R1 at the 0.8914 level. The surge is occurring in a medium scale channel up pattern. However, there are no...
After GDP:USD hit a double top at the resistance I've been bearish ever since. I think we will breakout of this ascending triangle pattern. Wait for confirmation at the lines of the triangle. If breaks down, set a short trade & the target will be the trend line. If stop-loss is broken go long.
Rising inflation in the UK! Well, not bad for today,it's just 0,1% up.
Trading method: RSADVANTAGE Stage 5 system setup 95% accurate system manually forward tested over 3 years designed to stay out of ranging markets and only target strong trends. This system is made of custom technical indicators that properly detect trends very early and provides exit signals at the possible dynamic S/R zones. GBPUSD Technical Outlook To open...
From a technical perspective, it looks like we finally have a break out of the consolidation range price has been locked into since the start of October. The overall structure is still bullish as the established higher low now indicates an impulse to the upside. Immediate target is 1.345. Swing targets being 1.35 Potentially hitting 1.40 by the end of the 4th quarter.
After the recent fundamental developments in the UK the British Pound has jumped. However, the move was expected on the larger scale charts. The GBP/AUD is no exception to the just described rule. It can be observed on the daily timeframe chart that the pair had closely traded near the lower trend line of a long term support line. Meanwhile, the 23.60% Fibonacci...
The situation on the GBP/JPY currency pair has been massively affected by the various fundamental events on both sides of the rate. First of all the British macroeconomic data releases have forced the pound higher. Secondly, the Japanese Yen has fallen due to the recent turmoil on the Korean peninsula. However, the surge can be mapped by a short term channel...
Good day (and night :-)), All! Major bullish green wave and supporting its formation minor yellow WW are currently taking shape and will most likely be formed within the next day. Normally, I wouldn't trade such a wave alone, but with the support of lesser yellow one it's worth of giving it a shot. I would like to underline that major green pattern can't (!) be...
Bearish channel has been broken. Also, pullback till the broken area confirm our idea. We should see this pair next to 147,00-148,00 in the next weeks. *Keep an eye on the Draghi speech.*
GbpNzd is nearing the lower range of its upwards channel. Based on the indicators there's still enough buying pressure and trend strength left for GbpNzd to go up. And a break of the lower range isn't very likely. Take profit: 1.89>1.92 Stop loss: 1.87. If the lower range does break then switch to sell for 400-500 pips target
Price has hit 423.6 fibo resistant level and also RSI is coming down from a high overbought position in line with Stoch. I believe that it will push down to the horizontal resist now turn support at the 1.75294 level. Further confirmation in 4H chart shows it to be on a downward pressure.
I think this pair is about ready to head up now. 136.292 seems to be a firm support. Look out for future buys. Itumeleng_Stimela
GBPNZD is currently looking the best pair to play. Very clean breakout higher. Nice flag on lower timeframes. Simply buy on breakouts and move stops higher as soon as possible. If it gets taken out, buy again on the next breakout. GBPAUD GBPJPY Spread your lots and don't overrisk. Trade conservativley and with care. Blessings to you all.
In my opinion this pair is a textbook situation for a coming bull move. Participants want to push it higher, but we dont have the sentiment quite lined up, to make for a "perfect storm" breakout so that buyers start to accumulate positions. Everytime it dips, there are buyers, pushing it higher again. I personally believe this recent dip to 1.60 is an important...
My first trade with the pair. GU broke a pennant and possibly retesting the move before moving down. Entry: 1.2465 SL: 1.2485 TP: 1.24