I closed 2 short positions and I still have 1 left. When price reaches this area, it's time to make a decision to buy or sell more.
Follow your trading and money management rules please.
Share your thoughts, ideas and feel free to ask questions.
One can reasonably expect the Sterling to mean-revert over the course of the next 18-24m as Brexit fears prove to be a furphy. I expect the distribution to remain the same post-Brexit.
One of two things will happen to GBPUSD:
1. GBPUSD will find resistance at around 1.31030/1.30821(highlighted area) and maintain bullish momentum until it breaks the counter-trendline. Anything after the trendline break is history.
2. GBPUSD will break below 1.31030/1.30821(highlighted area) and maintain bearish momentum until it reaches the 1.28669/1.28491...
La tendencia general como es sabido es alcista, el movimiento bajista que termino en un retroceso del 50% con niveles altos de sobreventa en RSI , haria que se retomen posiciones alcistas en la libra dolar, por otra parte si lo visualizan bien existe un patron Hombro cabeza Hombro alcista, en cuyo caso el movimiento bajista del dia viernes seria el "pullback" de...
Happy weekend traders!
Sterling slump after BOE easing monetary measures which sent the market down more than 200 pips followed by some positive job numbers yesterday with NFP adding fuel to the fire.
Technical see resistance level at 1.3050-60 zone where as long as market holding below this zone more drop will be expected toward 1.2900 levels
Above 1.3210...
GBPUSD has been in a +80 pips range for the past 4 days or so, and is likely to breakout of this range anytime soon. The MACD and the RSI are favoring a bullish breakout since they are both showing clear signs of positive divergence. On a much bigger scale, GBPUSD formed a falling wedge from the July highs at 1.34768. A bullish breakout of the range will result in...
Daily -
We can clearly see a descending broadening wedge, which makes this pair Bullish in long term, however I would like to see this pair hit the bottom of the wedge before it heads up, if we do break the blue trend line, its a safe to say to sell after a small consolidation, if we don't then we shall continue heading up.
4hr -
The 4hr time frame also shows a...
I was looking for structure to break and hold through the New York session but USD bulls lost the battle. The retest of the weeks high shows the market pricing in the fed meeting so I look forward to another test of the weeks lows before a leg up to test the month of July highs. In a perfect world the pattern completions would trade along with the Fed meeting.
Hey Traders, I'd really like to know what any Faders think about about this chart.
July 2016: Lowest Low Recorded Ever.
What do you think is next based on your experience and expertise. All opinions are welcome!
Pivot: 1.3235
Most Likely Scenario: short positions below 1.3235 with targets @ 1.3100 & 1.3045 in extension.
Alternative scenario: above 1.3235 look for further upside with 1.3330 & 1.3425 as targets.
Comment: the upward potential is likely to be limited by the resistance at 1.3235.
Overview:
The Gold markets rally during the course of the session on Friday, touching the $1350 level. At this point in time, Gold sentiment is bullish and market is ready to go higher, as buyers are still interested in the market. The main trend of Gold is bullish on charts and and market is sustaining above the 100 days moving average on its 4 hourly chart. It...
What type of a correction is in progress? Too early to conclude. But there is high probability for an impulse wave down to reach the bottom of the corrective structure. Then I am rooting for the correction to continue further. If price reaches this bottom structure, we will know by then if price wants to break out to the down side or turn back up for an...
