We are now looking for the completion of this pattern to the downside. Once we get a break of this trendline. It should be all hands on deck. There is the chance of one more move to the upside to extend the pattern but the downside potential looks the best choice.
Good shorting opportunity on GBPUSD pair. Price have made double top price in area for short. RSI overbought. GBP appreciated significantly I think its time to depreciate. GOOD LUCK
Fundas: Despite an improved unemployment rate Average earnings fell over the period. With the CPI tmrw I am slightly ahead of the game but anticipate this action is showing how timid traders are at this level for any more short term upside.
Techs: Price firmly rejected an upside breakout on the 4hr chart at 1.4375, showing some lvl of supply in conjunction with ...
GBPUSD tested its resistance area at 1.4297 (76.4% Fibonacci retracement, 61.8% Fibonacci extension, horizontal swing high resistance), where it reversed nicely off it. Price could potentially drop further to its support at 1.4123 (61.8% Fibonacci extension, 50% Fibonacci retracement). We have also identified another resistance at 1.4350 (horizontal swing high ...
Sell below 1.4279. Stop Loss at 1.4345. Take Profit at 1.4092
Reason for the trading strategy:
Price is approaching our first major resistance at 1.4279 (horizontal swing high resistance 61.8% Fibonacci extension). A strong reaction might occur below this level, pushing price down to our major support at 1.4092 (horizontal overlap support, 61.8% Fibonacci ...
Sell below 1.4297. Stop loss at 1.4351. Take profit at 1.4123.
Reason for the trading strategy (technically):
GBPUSD tested its resistance area at 1.4297 (76.4% Fibonacci retracement, 61.8% Fibonacci extension, horizontal swing high resistance), where it reversed nicely off it. We expect to see price drop further to its support at 1.4123 (61.8% Fibonacci ...
GBPUSD is looking like it could setup for a short based on the resitance rejection and trendlines - looking for a confirmation on the daily chart.
Anyone seeing the same? or even better, does anyone see it differently? Let me know
GBPUSD is approaching our first resistance at 1.4279 (horizontal swing high resistance, 61.8% Fibonacci extension). A strong reaction might occur below this level, pushing price down to our major support at 1.4092 (horizontal overlap support, 61.8% Fibonacci extension, 61.8% Fibonacci retracement).
Stochastic (89,5,3) is also approaching our major resistance and ...
Price is testing our first resistance at 1.4905 (horizontal overlap resistance, 50% Fibonacci retracement, 100% Fibonacci extension). A strong reaction might occur below this level, pushing price down to our major support at 1.3993 (horizontal overlap support, 50% Fibonacci retracement).
Stochastic (89,5,3) is also approaching our major resistance we might see a ...
A double top has formed on GBPUSD daily. Awesome Oscillator has hit a major resistance and Accelerator has turned red.
Recommended SL: 1.43543 (tight) or 1.4365
Recommended TP: 1.42
Hello guys, this simple analysis from me only using Support and RESISTENCE. Just go and take a look my decision for next week market.. Probability i gonna set Sell limit at 1.42828 -1.42593 and my STOPLOSS gonna this area 1.43463. If i fail i will counter at 1.43989 area for SELL LIMIT and my STOPLOSS just 20pips from the ENTRY.. If you guys had any idea for this ...
After having a great run in 2017, bulls failed to make a new high in the daily chart. In the past week, UK PMI reports all disappointed. If the recent swing low @ 1.3711 is broken, we can safely assume the uptrend is over and a lengthy downward correction will commerce.
Good luck,
Ali Sharifazadeh, CFTe
i short Gbpusd just before unemployment data for the reason listed here:
1 overbought a bit
2 rsi bearish divergence in h1 and h30
3 lost momentum a but and
4 he is on is top hight frm 2018 since brexit crisis and can have a possibility of double top but anyway need to breath a bit
