We have seen this pair show some great bearish momentum. We can see price reached some support and moved bullish creating what we refer to in classical technical terms as an inverse head and shoulders pattern. Price pulled back 50% where i have plotted the grey line and from here we may see a continuation of the bullish move.
Grey line - entry
Red line - stop...
In the daily graph, the trend is a downward trend, the gbpusd below all the important moving averages, the Ichimoku indicator Consisting of several formulas Signing on bearish model
TP: 1.2480
Get a chart up, find some key levels and look at how well price respects them and how many pips you could have munched on buying and selling off these levels... No indicators were used here, just nice clean charts.
SIMPLE is better in forex and if anyone tries to tell you differently then run a mile ;p
Think of it this way, we all know the world is corrupt so...
Get a chart up, find some key levels and look at how well price respects them and how many pips you could have munched on buying and selling off these levels... No indicators were used here, just nice clean charts.
SIMPLE is better in forex and if anyone tries to tell you differently then run a mile ;p
Think of it this way, we all know the world is corrupt so...
After moving up above the kumo after a long trend, it's time to see if this trend can be tested and hold. I am looking for a test of tenken sen to hold to look to enter a long position. If we drop down and form a good support candle or get a positive interaction price structure wise, then I'll look to enter my long position. There are a couple alternative ways to...
GU is in a key reversal zone according to past price action (majority). However, last time price was in this area it made one more move down to the 1.24689 zone before reversing. Price broke the 1hr 50EMA and corrected for the buy but because of the violatility of this pair, I would wait until price reaches the 1.2755 zone before entering for the long-term buy. ...
I like the look of this setup and I've already called my bank manager and told him I'm about to make a large deposit ;p
I have also rang my wife and told her I am trading her in for a younger model.. she was happy about it and said I'm selfish anyway... I don't know what she means ;p
We can see this has previously been used as a good area of resistance and with...
BUY & SELL Above Given Chart or
You Can Also set Own Risk reward.
Let see what Will be Next Move.
Warning- I m Not a Financial Advisor this idea Only For Educational Purpose Only.
Thank You !!
Looking to buy GBPUSD from buy area, wait for reversal sign,. Close trade at the target area (+40pips).
Overall GBPUSD looks bullish but be careful as there is the Services PMI report at 9:30 UK time which could have an impact on the pound currency.
Good luck traders!
GBPUSD was travelling inside a descending channel. Price recently broke out to the upside, came back down to retest the channel before making its way up. On its way up price created an ascending channel. We believe price will go all the way up to the 0.618 of the last downwards wave , however we have placed our Take Profit at the 0.382
Looking to buy GBPUSD from the buy area. Take profit (+40-50pips).
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Good luck traders!
BUY & SELL Above Given Chart or
You Can Also set Own Risk reward.
Let see what Will be Next Move.
Warning- I m Not a Financial Advisor this idea Only For Educational Purpose Only.
Thank You !!
So as you can see we have a double bottom forming on the 1H time frame and this is why I immediately advised to close most or all of the short trade when the position was +25pips. There are some important reversal signs to look out for.
It can be frustrating to be stopped out at break even after being in profit and this is why I look out for reversal signs and...
GBPUSD is consolidating which indicates we can see some rebound in prices near term. However, there are still chances that the price will reach 1.2480 area.
That being said, swing traders can think about accumulating BUYs at this level. Even short-term traders too can look for buy entries at 1.2610-1.2630 with SL below 1.2695. TPs can be set at 1.2680 and 1.2730
