I am closing this trade now and taking a -59 pip loss even though it has not hit my actual stops. Why? The recent price action has invalidated the bat and also my wave count. So the reasons for this trade no longer exist. I will re-analyze this pair over the weekend to see what I think is going on. Till then, I am not trading this pair anymore today.
We reach to Super Thursday with all market attention on Bank of England Meeting. In Bristish Pound Super Thursday : - BOE Inflation Report. - BOE Press Conference - BOE Mark Carney Speech - BOE Interest rate decision. What does market expect ?. - Consensus hope there are at least two member of BOE vote for rate hike. - How to BOE deals with low inflation in...
Cable has had a pretty good run since mid April but how much more can GBP rise? This is a potential BAT pattern in formation with an entry short at 1.5650 targeting the actual BAT completion area where you could see the price reverse. Sentiment is quite positive on this pair at the moment and I would say any traders that entered long around 1.5450 off the...
If I had to pick one currency to have a long position in ATM, it would be GBP. The EUR is weak, the USD is seeing a much needed pullback, and despite uncertainty in the past couple of months leading up to the elections, the GBP is starting to look like a nice long trade. I think we might see a decent opportunity in the GBPUSD in the next couple of days. The...
We see that GPB/USD has developed a decent bullish trend so I will go long in the pullback as the price has bounced on the Kijun-sen and the Chikou-span is above the price. I will put my stop loss a little below kijun-sen on the last fractal. Entry: 1.534-1.538 SL: 1.53116 Target: 1.54@
We just ran into some resistance at 1.548, which was a prior support area. Also, we have a bearish wedge with RSI divergence. Finally, we are at the .786 fib level of the last area and have a crab pattern that has completed as well. Keep in mind we have also not officially retouched that major broken trendline on the daily. I am going to stick to the trend here...
Corrective ABC can be completed here, i am taking a short here, at 100% extension with a SL above 1.6304 that is the 61.8% retracement of the 1.6521 - 1.5952 decline. I set my first target (1/2 position) at 1.6090 area, final target is 1.5930 area BOE in 15 mins lets see..
GBPUSD. Ascending triangle with a bullish trend + a double bottom