Buy above 1.2510. Stop loss at 1.2421. Take profit at 1.2651. Reason for the trading strategy (technically): Price has shot up and reached our profit target perfectly as expected. We now remain bullish above 1.2510 support (Fibonacci retracement, horizontal pullback support) for a further push up to 1.2651 resistance (major Fibonacci extension). RSI (34) has...
While GBP/USD swiftly bounced from it’s brief foray below $1.20, price has once again been capped by the range that you can clearly see in the daily chart The upper level of the range is definitely acting as resistance and the way it held again back in the first week of February puts Cable in play for shorts. Just keep in mind that it’s a 700 pip range and we’re...
Sell below 1.2481. Stop loss at 1.2527. Take profit at 1.2390. Reason for the trading strategy (technically): We remain bearish below 1.2481 resistance (Fibonacci retracement, horizontal overlap resistance, descending resistance) for a push down to 1.2390 support (Fibonacci extension, horizontal support). RSI (34) remains below long term descending resistance.
Seems market is not moving today due to US Bank Holiday. However, we figured one potential limit order before the pair continue down further to 261.8 level If price break the trendline.. then you should know what to do. Or the best way is.. wait until Sell Setup appear..? Good Luck...
Hi traders!I hold a point:Good charts does not more words to explain! Good luck!
Buy above 1.2384. Stop loss at 1.2330. Take profit at 1.2521. Reason for the trading strategy (technically): We close off our short position and lock in our profits from last week. We now turn bullish above 1.2384 support (horizontal support, Fibonacci retracement, Fibonacci extension) for a push up to 1.2521 resistance (Fibonacci retracement, horizontal swing...
Hi,traders!I hold a point:Good charts does not more words to explain! Good luck!
Sell below 1.2546. Stop loss at 1.2632. Take profit at 1.2356. Reason for the trading strategy (technically): We remain bearish below 1.2546 resistance (Fibonacci retracement, horizontal overlap resistance) for a further push down to 1.2356 support (Fibonacci retracement, Fibonacci projection, swing low support) especially with price making a bearish exit. RSI...
Hi guys, the GBPUSD has a nice bullish engulfing 4 hour candle. I am still waiting for resistance to fail before I enter, but everything is screaming bullish at the moment. If we weren't so close to resistance I would probably jump in. This is not investment advice, just my opinion(s). Please trade accordingly. Trade safe and keep an eye on news.
A strong support level at 261.8 Fibo level, where it pullback and create reverse flag pattern. I will hold my current short position minimum at first DP, I will monitor during news. If the impact is big, the price may break first DP and go further down to next DP (Strong Key Level). Good Luck.
Expecting a further push down to 1.2356.
trading idea and price prediction for British Pound/U.S. Dollar (FX:GBPUSD)
Hey guys, today i want to share with you an harmonic pattern formation that i think may be interesting in the next days. On the GBPUSD we are consolidating and ususally when this market condition occurs there are a lot of patterns that appear on the charts. Make sure your stop is below X, and targets could be set as i illustrated above, at the .382 and .618...
Buy above 1.2415. Stop loss at 1.2250. Take profit at 1.2850. Reason for the trading strategy: Price is approaching our buying area once again as we remain bullish above 1.2415 (Fibonacci retracement, Fibonacci projection, horizontal overlap support) to play a bounce up to 1.2850 which is our long term resistance. From there, we can expect a bearish...