GBP/USD LONG FROM MARKET PRICE 1.4842 Stop Loss @ 1.478 1st Target 1.491 2nd Target 1.494 3rd Target 1.509 Good Risk Reward deal...
This is my take on the GBPUSD wave count . I'm quite new to the Elliott wave stuff. Constructive criticism welcome.
Long GBP/USD @ Market Price 1.49175 Stop Loss @ 1.488 Take Profit @ 1.50 and 1.5135 Good Risk Reward deal...
MACD Histogram breached upper side as well as the chart candle breaking the trend. However it seemed to have broken in previously but carried on pushing towards the lower side. But with this situation, the previous 3 surges were very strong green bars + closes. It took a lot of Bear bars to overwhelm 1 or 2 Bull bars. Also due to the feds most recent news it seems...
GBP has gained considerably over the past week. Price not only closed above a strong support but it was also a fib level. That coupled with the fact that cross indicating a bullish move has occured and RSI giving a bullish signal as well. Ianticipate that there will be a retrace close to support ( As it has been doig in the past). The aim is just below the major...
My position is long on GBPUSD with stop reverse 1.4950
GBPUSD has put in a Double Bottom at Daily Support. RSI went Oversold on the 1st Test. On the 2nd Test the RSI was showing Bullish Divergence. Zoom in on a Lower Time Frame once Price reaches the Entry Zone and look for some sort of Reversal Pattern Such as a Hammer Candlestick, Doji, 3 Bar Reversal, etc... Stops go either 1 ATR or 10 Pips below the Double Bottom....
GBPUSD appearing some strength which is need confirmation with break up the resistance level 1.5510
Awating for the US data, GBP is moving between 0.382 and 0.618 levels of this huge downtrend pitchfork. Below this level, the 1.50900 major support area (May 04/05) might be considered as a good target if the US data is better than expected. If the data will be much higher than the expected, 1.272 fibo level (1.49857) should be the next target (where...
I have highlighted daily support areas which are confluent with Fibonacci levels. I lean towards the Bearish side, however I would not discount the Bullish targets on screen, especially with announcements from the US today. The bullish or bearish move will depend largely on price action and candlestick confirmation for me. Another reason for leaning to the...
FX:GBPUSD Let's see what the market is cooking, at the moment began a retracement and pulled in 61.8% from previous weekly support. IF the price break the previous structure, and IF starts a new fall that reaches the 61.8%, it forges one bullish 2618 setup with expectations of an upward move that by "default" breaks the nearest structure pressure zones, or...
Cable is a great opportunity right now to make some pips. My buy target is set to 1.536 with a SL beneath 1.1332 as it is possible a stop hunt will take up to that level. The sell target is first the .618 fibo and a second target of 1.58.
We are in the middle of a three wave correction. Wave B is completed with the Triangle correction. Expect a 5 Wave move upwards to complete Wave C.
The trend is swinging inside the flag and hit the structure level also there are two Fibs retracement at 0.618 for CB leg and 0.382 for AB leg.
This pair sold off nicely finally!! Should see a bit more downside (possibly with NFP) as we didn't quite hit the major trend line currently supporting this uptrend... Could a long term reversal be in play very soon??