Pivot: 1.4190 Most Likely Scenario: short positions below 1.4190 with targets @ 1.4085 & 1.4050 in extension. Alternative scenario: above 1.4190 look for further upside with 1.4285 & 1.4360 as targets. Comment: the RSI lacks upward momentum.
Pivot: 1.4110 Most Likely Scenario: long positions above 1.4110 with targets @ 1.4285 & 1.4360 in extension. Alternative scenario: below 1.4110 look for further downside with 1.4050 & 1.4005 as targets. Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
Most Likely Scenario: short positions below 1.4530 with targets @ 1.4425 & 1.4365 in extension. Alternative scenario: above 1.4530 look for further upside with 1.4600 & 1.4665 as targets. Comment: the RSI is mixed to bearish.
Bullish bat pattern setting up can also be used as a bullish trend continuation entry technique. For more aggressive traders option to shoot for larger targets here based on the underlying uptrend.
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...
PLAN TP = 1.49-1.50 (fibo 161.8, Day) From every timeframe, it shows up that it is very bullish. follow buy or buy on dips.
GBPUSD: Daily Chart It is the 3rd wave (3-3), So it can trade with easily set up. Buy anywhere with cool RR.
PLAN Next week Watch out this price if it can break TL and go down It will end the impulse uptrend and going to downtrend. I will wait for break TL (Buy1) and, maybe, it will TB to meet TL again (Buy2).
I think the downtrend is finally over by breaking my trend line after 8 months of build up. The retracement is already done, this pair is ready to be bought. Great ratio regardless of which TP your aiming for.
Guys...... Seems very timely a month from June 23rd, please see attached charts for previous success with this pair in particular. Everything is on the chart for this one, we will be following and updating this closely over the coming weeks/months. Like and comment your thoughts below, TheBanker. www.tradingsignalreviews.com
Pin bar on daily chart means this pair could gradually turn our attention to the downside for few days. Coincidentally this is also the 61.8% retracement of the fibo drawn from 1.5245 high and 1.3829 most recent low. Today price is about to close below 38.2% of the same fibo. and also closing below my trend indicator (EMA). if today price closes below 38.2% of...
GBPUSD is on its C corrective wave and has not yet been complete giving us an opportunity to make 150+ pips.
If you're going to take a position for the week, short now. Stop loss : 1.4660 or if you want something riskier, above last high at 1.4230 Take Profit : 1.4050 I run an exclusive forex group training full time forex traders at www.TheForexArmy.com
gbpusd has formed a head and shoulder pattern which can yield 400 pip fall in this pair in longterm... waiting for break of resistant at 1.4050 area and retest and dive :D
Day : Swing in the trading range, not trend Plan 1: Trade with resistant and support line Now it is not LL, and Break out in the 4H. LONG to 1.4400 ! Plan 2: If it lower than 1.405, Short with LL to TP 1.3866