GBPUSD H4 - If price starts to hold up at current price (618 fib support), we could start to see the next bullish leg come into play here, although this wouldn't be our preferred buy zone, it may be the price we start to reverse at. Preferred buy zone lays on our H4 trading price of 1.22762, which is also marked. Both entries, would be targeting the previous high...
- will only be taking this trade if it triggers me during NY or towards LDN close - target can easily extend to 1.24 - will start to look for shorts after this trade
Bearish Indications (BIASED SHORT) 1. Bearish Flag Formation and it breaks its support line as well 2. BXY is in a Bearish/Sideways Trend 3. JXY is in Bullish Trend 4. Broken flag support trend line Bullish Indications 1. Currently Price is at its major support level in Higher TFs Neutral Indications 1. No divergence was found as RSI and the chart is in sync
Bullish Indications (BIASED: LONG) 1. Higher Highs and Lows 2. Tweezer Bottom is found on Green Support Line 3. Price gives significance of 0.236 fib level as well as Higher TF Support 4. GBP Index is Bullish & DXY is Bearish 5. The previous 3 December was bullish 6. Bullish Divergence on 1H and 2H TF Bearish Indications 1. Break Trendline 2. Red candle is...
- buys look good from these 2 areas - intraday targets depends on apm and how price balances - extended achievable target @1.244
The British pound edged above $1.12 recouping some losses from the previous session The Bank of England’s emergency bond-buying scheme, which was used to cover pension funds caught up in the market chaos sparked by the tax cuts announced last month, I think by Wed or Thursdays we will see price starting to fallin we are monitoring GBPUSD for a selling opportunity...
The falling wedge pattern can be seen here. upwards breakout was given, but the price came back to retest the breakout region. Price made a double top, and double bottom, after which it broke its support. if it bounces back then one can say that it will go towards its target, if the bounce fails then it will go down in the wedge again. *News: Winters will be...
BXY weekly might have a bearish closure as this morning star pattern have appeared, most of the time the next candle is usually bearish (70% of the times ish). This bearish candle might hit 121.85 area before a continuation and hit the psychological level 130.00. Clean level with good res/sup history. Overall BXY bearish, but a such big retracement could...
We can make a case here that this correction might be done but at the same time, I don't have enough data to back that up. If we get an impulsive reaction out of here on the lower degree then I'll be more confident in that case, if not I am looking for another leg down into the Daily Support area which coincides with the Golden Zone.
Previous Monthly Candle was a huge Bearish move. Not expecting for price to shoot up. Expecting more of a price continuation. Daily Fib currently around 23.6% 4H Showing resistance and Sell candles forming. If Pound drops it will go hand in hand with GBPJPY Analysis. See related Ideas
Fibo from 1.74226 to 1.85220. Objective: 1.96600 I'll buy at 1.85720-1.85780
GJ long confluences: Uptrend third touch Pullback retesting broken range Price rejection at 0.681 fib level supported by MA;50 Cup and handle chart pattern Scaling : Buy stop order set at 152.14 Good luck everyone!
BXY (British Pound Currency Index) 1W & 1D: The British Pound Currency Index has been trending to the upside since the beginning of the year. The trend is strong, moving in a classic Higher-High and Higher-Low structure. The BXY is respecting an ascending trendline from the weekly perspective, and we are currently seeing a minor pullback towards it. We expect...
The Pound index forming a bullish wedge on the daily chart after retesting support. Front running bulls have already entered low-risk trades tight on support but will the pattern hold? As a bull myself in the long-term, I am focused more on upside potential than downside; although downward moves are key to entering long. It may not happen now, but I am...
just now BXY INDEX - Some gaps that needs cover before we see GU price start uptrending again.
1:6 Risk reward ratio! waiting for next week's market updates to confirm this trade opportunity. DXY: BXY: