GBPUSD retest the support zone around 1.2980's for the 4th time and we have potential double bottom forming in the zone. So once Double bottom & bullish reversal is confirmed, initiate long positions in GBPUSD with stops below wicks of support zone. Feel free to leave your comments/opinions...
GBPUSD chart is quite self0explanatory,a s per the wave count shown on the chart , the elliot wave has completed and just started the corrective wave (c), We have double bottom also providing support, GBPUSD retested and bouncing back from zone around 1.2930's. After checking your trade plan initiate longs. Happy Trading !
GBPUSD is very bullish for last few sessions and shorting it would sound like crazy idea. But with proper trade plan & defined risk you can short GBPUSD. I expect the price to reach the marked resistance zone and we have previous swings Golden Fib Ratio 61.8% in our resistance zone 1.3150's which adds up more confirmation, check RSI overbought condition if you...
GBPUSD Two short Targets to trade. Sell now at 1.29969 > TP 1.29490 Buy low and TP at 1.31337
Afternoon traders, I trust you are all enjoying your weekend after an insane Jackson. Apologies for not getting to post this sooner guys... Ahead of next weeks PMIs and NFP i'm adding looking to add shorts on cable, firstly, congratulations to the beach club who managed to catch the 1.32737 shorts with the spike - sterling bulls are in trouble if economy does...
In last few hours it fell down like a rock, indicators will be oversold soon and price will somehow reach near trendline where on positive price action i will look for long otherwise not interested
Have a look at the chart, I've plotted possible path price might make
Reason for entry: Trendline pullback and weekly resistance My personal view, always trade according to your strategy/plan! Stop loss: 1.32850 Entry price: 1.32263 Take profit: 1.30750 Risk/Reward ratio: 2.58 % of equity risked: 1.2% of equity Please comment and share your view, thanks!
GBPUSD can trick you to follow downtrend, but i only see here some big spikes to up and nothing more!
I don't usually trade Elliott Wave but this setup jumped off the chart and slapped me in the face while looking for reasons to go long GBPUSD. 15th August saw the beginning of the 1st wave with a double bottom at post-Brexit lows. To kick off leg 2, on Thursday 1st Septmeber UK PMI Manufacturing came out at 53.3, above the projected 49 and far exceeding July's...
This pair has been range bound for a number of weeks following the shock brexit result. Following the large downside move, we have seen a period of consolidation, with the pair trading firmly within the range of 1.2875 and 1.3430. The previous weeks trading saw a rejection of the upper bounds, followed by a bearish move back into the consolidation zone. The price...
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.
Short term bearish pattern setup: Entry : 1.31435 Stop : 1.31640 Target 1 : 1.30982 Target 2 : If price breaks trendline , 1.30676