As you see on the Chart, GU creates a H&S pattern, break through neckline resistance at 1.3080. If we see the retest of broken neckline and Resistance (which turn into support), we could look for an 120 - 140 PIP upside move.
We pulled now back in our 40PIP´S FIB region to create that FIB C Leg. We also rejected of H4 Support 1.2970 and break CTL so far. Can we see a clear bull close above 1.3010 on next H4 close ? Then we may reach our Targets at first 1.3120 and second at 1.3170. Keep your eyes on the Charts..!!
Logistic Wealth Management Strategist-Tanner Elphee 6/12/17 GBPUSD sold off harshly after election results. Me being the novice trader I am jumped right in off the first woosh bar. Set my stop behind the first wick and through the night it stopped me out. In hindsight the stop was way too close and I really have no clue what is going on in UK. I know the...
Opening a long position in the support area. The target may be in the local resistance level or higher. Started Profit Factor 7.
If the support level is not broken, after a small consolidation, it is possible to move up to the resistance level or higher.
Here I'm trading the potential scenario where we have a retrace down to 61.8% fib of the recent bullish leg. This is then followed by a long opportunity. Will update this post when we get to this point. Behind this idea we have a bullish reversal which is showing by change in momentum and a double bottom followed by a break to the upside (of the V point of the...
For more than 12 trading days, the pound is in a small range. A break in the range can cause a short-term movement with a target of around 160 points. In my opinion, it is more likely to move up.
A pound for more than 4 days is in the range of less than 100 pips. A range break can be used to open a long position with a target in the 1.3550 area.
GBPUSD 0.32% , after a market consolidation, breaking the monthly resistance, now looking forward to hit the first 150PIPs target and then waiting for the long-term target..
The pound has formed a long-term consolidation. We trade within the consolidation or at its breakdown.
A breakthrough is possible up the small consolidation on the news with a further breakthrough up the long-term consolidation. I think the probability of a breakthrough down is still greater.
If you are following me on Telegram (t.me) you saw my entry and targets this morning on GBPUSD. We had a double bottom, with several failed attempts to close below 1.2400 - together with heavily oversold conditions and a historically strong support and resistance area. A good case. What I was looking for was a pullback that we could profit from with 2 targets. ...
Hi traders, After a long time of waiting, GBPJPY has formed a reversal signal , which is a good looking pinbar at support area!! Yay!! :) Well, I'm not 100% saying that GBPJPY will go up, instead I'm it has higher probability and possibility to go up. The risk-reward is beautiful. Therefore, I would suggest you to do a long position on this pairing. If you...
GBPUSD giving buying signals after struggling at 1.2150 and failing to close below. Targetting 1.2300 before looking for bearish confirmation again. Entered first position at 1.21870
After our successful short we find ourselves with an opportunity to get long. Based on; >Bat-pattern completion >Trend line (triangle) support at bat D completion >Oversold condition >Psychological support at 1.24000 These combined gives me a clear signal to enter. Target conventional 0.382 fib of A to D (the lowest point)
We have an opportunity to get long with a break and close above monthly resistance. Historically when this has happened the price has retraced for a brief retest before heading up. Lets see how this pair responds this time, the risk to reward is big enough for taking the risk (for me). Do your own analysis, we see lots of different opinions on this pair. I...
We find a 2618 (double top followed by retracement to at least 0.618 fib) opportunity to get long. I put my entry below 0.618 to improve my risk to reward ratio. Order is pending, lets see if we get filled.
I let the chart do most of the talking. But the main ingredients in this setup is fibonacci retracements to predict entry, target and stops together with previously tested structure areas that is of interest for building this case. Oversold condition together with the 0.618 is my signal. Lets hope we get filled, and lets see how this plays out.