Gbpshort
📈Long trading setup or a bull-trap? Let me know your thoughts🤔On the daily chart we can see that the EUR/GBP has been trading in a range of 0.887-0.900.
Yesterday it broke the 24 day consolidation by breaking through the 0.900 daily resistances on the daily level, which is a BIG DEAL.
Throughout this trading pair’s history the .900 level has acted as resistance going as far back as 2011, which tells me it’s an important level and lots of traders are watching.
The break to the upside was caused by the BOE singling that they will increase QE by an extra £100m+, with the markets assuming that more QE will be needed in summer.
I don’t want to FOMO in right now because this is also a great place to get caught in a bull-trap.
For me to go long, I would like to see a few daily candles close above the 0.900 range to confirm the break out to the upside, and see the 0.900 resistance level turn to support via rounded re-test.
For that to happen I’d probably get in around 0.900 with a stop at 0.8987 and a take profit at .9500 for an R of 3.46.
If we get to the 0.8987 my idea of a breakout has failed as we’ll be near the mid of the daily trading range.
I take profit at 0.9500 because that was the top of the last daily candle during the fake out, and I suspect there to be a lot of sells if reaches that level.
If you have any questions please feel free to leave a comment
GBPJPY SHORT 4 HOUR CHART!!!In a bit of rush but there is a lot of TA behind this decision...
Good luck traders :)
GBP/JPY : Bear Flag BreakDown SuccessfullyWe can see completey downside movement continueas per price action.
ThankYou
GBPUSD Short Side FavouredGBPUSD Daily is currently testing major historical resistance. Price Action has broken our of fib level 618, watch for an immediate bearish reaction.
Eliot Waves Say Bearish
Bollinger Bands Say Over Bought
RSI almost over bought
EURGBP LONG1. Broke supply with strong push
2. Turned into demand
3. Rejection off the demand
4. ENTRY BABY!
GBPAUD - Buy&Sell OpportunitiesPossible rise in the price of GBPAUD in wave C as part of wave 4.
After reaching a key resistance level, I expect a continued decline in the framework of wave 5.
GBPUSD, short to next bears levels: 1.2369, 1.2330.Hi, friends lets look on GBPUSD chart window. We see big newly opening bears. And totally bulls involving around this volume. So i think its clear short. Thanks to x-lines script we have target for downward trend: 1.2369, 1.2330.
More about X-Volume indicator - link below.
Waiting for your likes!
GBPUSD to begin forming second shoulderWe're now looking for GBPUSD to continue it's second third bearish leg and complete it's "Head and Shoulders" from the region of 1.24600 towards lows of 1.23282 over 145 pips away. Risk is low due to the position of our entry.
GBP/USD has a high probability going downGBP/USD has a high probability going short if breaks the blue trendline...
GBPUSD Analysis I'm overall short on GU but can see a bounce to the 1.24 price level to test it for a retracement back to the 1.22 lvl
If not im seeing a continuation of the trend down to the 1.22-1.21
GBPUSD; Bearish on the British Pound Against the US Dollar1. We have gotten a short signal on GBPUSD from our Silver Scalper strategy on the daily timeframe as our Range MA shows a downtrend (background Red) and our Bull/Bear has given a short signal.
2. If the market opens in the R1 range then you can consider entering short and remaining short until we get a Bull signal from Bull/Bear or Range MA shows an uptrend (background Green).
3. Levels to watch to the upside are the ranges at R1 - R3.
4. If the downtrend is still valid, we can add to our short position on additional Bear signals.
5. Levels to watch for reactions to the downside are S1 and S2 where we would hope to see a bull signal to exit short.
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NOTE: We conduct market analysis on a daily basis from a trend trading perspective using our own in house built tools. If you like any of the content we provide please leave a like and a follow to show your appreciation.
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STRATEGY USED: Silver Scalper
Trend Confirmation = Range MA
Entry Signal = Bull/Bear Power
Exit Signal = Bull/Bear Power OR Range MA
GBPAUD 2 sell oppurtunities Strong support has been broken 1.9870, a retest of it would be a nice oppurtunity for sell.
Second chance to sell if price didn't retest is when price will break the trendline and retest it around 1.9510
GBP/JPY, price is approaching Strong Resistance zoneIf the price breaks and retests minor support on H4 Timeframe, we will take short on GBPJPY. Otherwise, in case we saw the resistance broken, we would be looking for a nice long.
GBPCAD Short trade idea in the making +/- 500pipsOn 31 March 2020 the pair made a high @ 1.77958
The #GBPCAD being a #commodities driven pair reacted accordingly to the current oil crises. As if that is not enough the COVID-19 situation just adds fuel to the fire. All of the aforementioned contributes nicely to the short trade idea on the #GBPCAD. The latest hospitalization of Prime Minister BJ and him being moved into the ICU, give us the final support element to this idea.
NOTE: Extra volatility might presents itself due to worse then expected economic data or an improvement or deterioration of Boris Johnson's condition, so, be careful, alert and stay safe.
Entry: enter at market during any pullback opportunity during the NY session today (7 April 2020)
Stop loss: it is advised to apply a 80-100 pips stop loss (micro lots). This is due to the volatility in the #GBPCAD.
Take profit: in the 1.67300 area which will give a good +/- 500 pips
RR: between a 4/5:1
Remember, anything can happen and it will happen.
GBPUSD - uncertainty A large number of options with GBPUSD is giving us 3 main scenarios:
1. Yellow - the simplest, we wait for little up movement and then the continuation of the following correction;
2. Purple - some concave movement after which the top is retested and maybe we'll have another top after which we have another 2 options:
2.1 - Purple - here we have some flat correction and possible continuation of GBP price recovery;
2.2 - Green - after a new top is there we have an aggressive sell-off to complete a sufficient correction;
GBPUSD - The risk of decline is near (09/03/2020)I expect the impulse to complete in the wave C-Minor and the beginning of the decline in wave C-Intermediate.
Friends, support this idea with your Like and any Comment.
Thanks.
