GBPUSD H4 - The big bearish H4 candle we saw yesterday was off the back of the USD data. A big move and excuse for some USD correction, big relief rally needed, but unlikely a trend changer, I think we can expect continuations of DXY and dollar weakness going forward this week, cable is a good example of a break and retest to set new highs and continue the bullish...
GBPUSD I am aiming for 1.35 area. dollar spike today is a good time to go short dxy, and we have pulled back to previous high.
GBPUSD - Pull back and continuation higher? Few confluences here
As it was nearing the highs, I put a small lot size on at 1.33104 for 10 pips to 1.33204 and got a short 10 pip scalp on the way up. Just because I knew it would break the highs to trigger the smart money stop runs and clear out tight stop losses people already had on sells. Now that it's above the Highs, I believe this is a false breakout as it's holding steady,...
I had my eyes on this set up towards the end of last week. Not sure how market will behave Sunday eve/Monday morning but the good RR makes the trade worth taking
After a fantastic trade set-up for GBP/USD on my previous idea where we saw that indeed the confluence between the support zone and the trendline caused the price to go up, we are now at a difficult situation. If you were long already a great place to exit could be directly underneath the horizontal resistance. However, if you're not in the trade at the moment...
GBPUSD has been on the downtrend since late 2007; this narrative could change starting from 2021 IF the pair can possibly breakout from its monthly bullish wedge . Good to see the pair violating 1.35025 level and any pullback from there (with a rejection) could indicate cable's readiness to commence an uptrend... N.B - Let emotions and sentiments work for...
Here is my current trade explained based on an order block style strategy. Higher timeframe bias with the wick rejections whilst finding an entry on the 1minute timeframe with a very small stop loss securing a great RR. For a more normal intra day move, I've provided a safe stop loss. I'm only long should we breach this area
➖⚡➖ KEY TAKEAWAYS ➖⚡➖ ✔️ The pair overall remains bullish on larger timeframes. ✔️ USD Continues to remain under pressure across the board. DXY near lowest level since Feb 2018 ✔️ Stimulus is continuing to be delayed with vaccine just around the corner. ✔️ Brexit deal unlikely with Michel Barnier, the bloc’s chief negotiator, is to go into quarantine just as time...
FX:GBPUSD Looking for GBPUSD to come up and create this right shoulder before further continuation to the downside. Already sniped the top with the guys, so now I will just hold and chill
The cable GU is a very violate market and is difficult for even institute traders. UK are releasing there data tomorrow and indicators are showing low figures already so fundamentals are there. I am bearish and it has a descending triangle on the 4hr chart high on many oscillators if it hit tp1 then we could go to tp2 this week this is just my...
Still looking for weakness to take out blue levels - Then off to 91.50 Last week Thurs/Friday was so slow but I liked that we drifted down and respected the resistance above market. I will be looking for trades on fibre, aussie, cable and gold this week. I will also keep an eye on Loonie and kiwi to see if I can pick something up. Follow for updates - will...
For the first time in months I'm excited to trade GU this week! So on the daily, we have a bullish pennant whereas on the 4hr we have a Head and Shoulders. What does that mean? Simple, we don't take the sell, as that goes against our higher timeframe bias as we're still in an uptrend due to higher highs and lows. We wait for that neckline to be breached and for...
I have highlighted some Key Daily candles which have and will create great trading opportunities. GU has produced some fine swings recently and it is always useful to study Price action around key areas and hope to catch a good move or two
Working on refining some tight entries lately. This trade offers at least 1:20 using a 10 pips stop. A more reserved option would be 1:3 moving the stop above last weeks high. GBP looks like it may continue the push lower over the coming weeks.
SMT = Smart Money Theory. A lot of this can be explained in my EU Idea since both move in concert together (usually) Just GBP happens to make bigger moves. So that's why this chart is on the hour chart and the EU is on the 15 min chart. GU is looking to break the next daily low. There's a far reach for the next daily low. Price will reach the GU daily order block...