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...
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
As you can see, the price is going to touch a support in a 1 hour timeframe. This support may cause the price go up. We can see also that the RSI is almost in its oversold line, it shows that the supply is almost done and it has lost its strength.
My view here is totally clear, LONG wwith target at the next resistence.
Wathing close...
If this analysis makes sense to you give me a like and share with your friends. Thank you and good trades !!!
*DISCLAIMER:
Please keep in mind that I am not giving any trading signals or trade calls here. Only providing my own trade thoughts for your benefit and insight as to my trading technique and style. Please don't ask if you should...
Rarely wrong on cable, as I mentioned yesterday, market in potential Head & Shoulder formation managed to hit the market with first drop so far toward 1.4325 level where market back to advance from intraday uptrend level.
GBP/USD
Overview:
Market still has room to advance to re-test resistance zone 1.4410-40 while as long as market holding below 1.4515 this...
GBPUSD is lining up with a very good long on both 1h and 4h chart. We have our trendchannel with 2 test of low and 2 test of high, with a possible bounce for 3rd test of low, plus a 78,6% fib retracement in almost perfect allignment.
I've decided to go with a wide SL below the prev swing low, but this is ALOT of room to work with, and you could easily narrow it...
