The price has made a Higher Low on the 1W Channel Up. We are going Long with TP = 12.13. If 11.49 breaks, then 1D will emerge as a Channel Down instead and the long will be stopped out.
Last post: May 2nd. See chart . Review: A possible breakout and a close above the resistance zone around the round number 12.0000 was on the horizon. Update: Price failed to breakout and, instead, pulled back to the daily 50SMA. Conclusion: Price is now showing strength again. A breakout above is still required. Any comments or questions, do not hesitate...
We last posted on the GBPSEK on April 15th when price had closed above the round number 12.0000 which was then confirmed as support. What followed was classic price action movement which is often a battle between the bulls and the bears at these key levels. We can see that the bears came in strong in the form of a pullback to the pivot support level of April...
We last posted on the GBPSEK on April 7th when price had broken out of a circa 4 month consolidation and was showing positive signs of developing into a neat linear trend. This is exactly what we want to see as trend traders as linearity offer opportunities to enter, and more importantly, compound. Since our past post, the GBPSEK has continued to perform well....
It meets the TP in my previous idea near 400 pips I think in long term it goes to 1.1250 after a few downturn
Short GBPSEK @ 11.8228; TP @ 11.5864, Sl your choice
After breaking 11.50 and 11.7970 it's going to meet 11.853
The GBPSEK is one of the better looking GBP currencies with price trending well and currently going through a mini breather as opposed to a deep pullback such as the GBPCAD . Last month in March, price broke out of a period of consolidation that went back to December of last year and has since been trending very nicely. The emerging trend structure has so far...
Hi traders, Keep an eye on this one. Looks like the down move is over and am not expecting a nice upside move. Regards, Tom_Killick
- Fundamentally based from the Swedish Terror attack over the weekend. - Technically, it has been riding the keltner channel for the past few days and its trading between the 50.00% and 61.85 Fib lines. - Estimated Profit Point: @ 11.2418 - Stop Loss @ 11.07
If point D is approved long position shark pattern min target: fib 50% typ target: fib 61.8%
In my past idea I believed that the support level would hold, as the price now broke through the support, I now believe that the price will fall further.
usdmxn ---------- usdcad +91 (1M) usdcnh +87 (1W) gbpsek -88 (1D) ---------- Not Investment Advice ----------
Head and shoulders pattern seems to be forming, if this pattern is completed, we'll most likely see a decline.
There is a 3 bar reversal pattern in the monthly chart with oversold stochastics. For long term traders look to buy after the close of this month IF and ONLY IF November candlestick closes as a B ull bar . weekly chart is pretty strong too, look to buy with any correction in the 4 Hour chart. for day traders, trick is to buy only after a candlestick closes...