To me this is just perfect. I had this pitchfork in my graphs for more than a year and it has been very accurate. Break the Pitchfork and complete the Head and shoulders pattern and our target is back to 0.76. All the read lines from the peaks to the baseline are copied and pasted. Only exception is the last right small peak that was a bit shorter! You can see...
This is a good opportunity for an entry to go long. GBP/EUR is currently ranging in a bullish channel, price is currently at the low of the channel and so far has failed to breakthrough. Stops can be placed just below the trendline and targets are at the high of the channel. Resistance may be found at the bearish trendline that is forming within the channel (as...
We are approaching the top of an upward channel, this key area of resistance is a good area for a sell opportunity. This is supported by divergence, that suggests that the next peak will be lower than the last - which would fall at the top of the trend line. Before placing a trade wait until the candle closes, if the candle closes outside of the trend line the set...
Long above trend resistance should be a nice trade :)
I see two options for the EURGBP: 1) A Flat correction and 2) A Triangle Minor wave 3 is complete thus minor wave 4 is underway. Wave 4 being a countertrend move will prove to have two options as listed above. I prefer to always think that the Flat will form but keeping my eye open for the potential reversal at the 0.618 level signaling a Triangle...
Selling/Buying Potential - I have left an alert to asses the quality of the previous resistance line (Dotted line), I want to check if it tests it and gets back on the upside or break on the down side to set an entry. P.S - Keep an eye if its breaks or tests in either the 0.50% / 0.618% Fibonacci line for a close or to still hold unto the move.
High stakes this time. Shorting EURGBP: * Currently on top of an expanding triangle * Top of BB * RSI and MACD divergences * Long time no see 200 SMA
Looking to long here. If price breaks below channel then I will switch to a short.
confirmation that after 10:59pm the bulls will come into full play based on bullish formation
EURGBP has hit the bottom of its channel if price breaks above 0.8387 we could see it heading to 0.84448, Alternatively if sellers take control price could fall to as low as 0.82466
We are still in bearish territory
now that the bias is bearish we now look to short on the retest
sell opportunity at the peak of the M pattern
50 Delta ATM Volatilities: USDJPY - - $Yen has an ATM implied volatility curve of 55.95%mrkt 24.08%1wk 18.31%2wk 14.12%1m - Obviously we are aggressively steeper in the front end, with BOJ tomorrow and JPY MOF Fiscal Package details coming next week providing heightened vol for the 1day and 1wk vols - naturally we then see the curve tail off as the event...
I am staying well out of any trades this week as i am expecting the market to be extremely volatile with the anticipation of the EU referendum. However this is just an idea that it appears traders are taking the position that they expect the UK to stay in the EU as the Euro declines as the GBP grows in strength. Stochastic/MACD/RSI all show a strong correlation...
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