Prices are facing bullish pressure from its ascending trend line and Ichimoku cloud and a pullback to test the support zone at 1.37400, which coincides with the 127.2%, 38.2% Fibonacci retracement and 127.2% Fibonacci extension, presents an opportunity to play the bounce to the next resistance target at 1.38500.
The pair has been trading within a Channel Down since April 30. Today it is rebounding after coming the closest to the bottom (Lower Lows trend-line) of the Channel Down since July 20. This is a short-term buy signal on its own with a 1.3750 Target (the short-term Resistance).
On a more longer term perspective though, we can see a similar fractal developing as in...
More setups coming in GBP pairs and others. Be sure to follow
Stop should be above the PH and ride this SHORT trade then we take profit at the bottom for some LONG play i will post that when the time comes. I will be actively posting some nice setups this week.
Prop traders stay turned...
Squeeze em up ? I dunno. GBP Pound has been bullish a while now. Bullish til it's not?
Lock em down, UK restrictions are bullish for currency. Chart just looks bullish too as I believe UK does better during times calling upon fiscal creativity.
This summary of the recent rally on the GBP USD highlighted the important rule of never trading against the main direction of the trend. The only exceptions to this rule are
1. Reversals at Major Resistance/Support Consolidation Boundaries of the Monthly, Weekly or Daily Charts.
2. Reversals at Major Resistance/Support Price Points of the Monthly, Weekly or...
I put together this educational post due to my poor analysis on some GBP pairs last night. Presented pair is GBPUSD. It is important to backtrack and figure out a future solution for a losing trade.
This is an extremely informative and effective time frame strategy especially for this currency. I have presented the major GBP pairs and results from the 2 am and 8...
Note that ideas published represent my viewpoints on structural directional movements. I do not post explicit trade parameters (i.e. entry, take profit, stop loss, etc.) as these are set to in reference with my expectancy. Since my win rate and R-multiple targets are different, ideas published are simply a resource to provide guidance. You are expected to...
GBPAUD - Intraday - We look to Sell a break of 1.8119 (stop at 1.8157)
With our medium term bias looking to fade gains and the short term bias indicating buying interest we are faced with mixed signals.
Pivot support is at 1.8148.
Expect trading to remain mixed and volatile.
A break of 1.8120 is needed to confirm follow through negative momentum.
Short term MACD...