Bought GU from 1.10264 to 1.12394 at 200ema 1hr, we could reject off this zone or push strong for the third level since Wednesdays reversal, mentioned in previous ideas
As discussed yesterday, GU formed a double bottom, it has formed its first leg and made a retest, it has now formed a smaller structure double bottom at 50ema support, we should see some good buys now for the second leg
GU is a sell, after retesting 14ema on the 4hr chart and giving a half batman for a sell.
Price formed a recent resistance at 1.0873 & support at 1.0737 while also moving by creating higher lows into the resistance by following a shorter TF uptrendline. so if price makes a break & close above the resistance with these higher lows, then it could move all the way up to the next resistance at 1.1201. However a breakout of the recent support at 1.0737...
Price seems to have created a recent resistance at 1.0596 after forming a new low at 1.0352. now if price respects the recent low as support & makes a break & close above the resistance then price might continue to push up to retest the next resistance at 1.0833.
Use appropriate risk management. Last few posts have been incredibly successful so I'm using lower risk on this one. My strategy is a confidential, but those that trade my posts don't get carried away with my extreme accuracy and how I usually have little to no drawdown - USE SLS! This is a mid to potentially long term trade. The target is lower than GU has...
G/U perfectly reacted to our key level. After reached it, the short happened!
Using only 1% Risk on this one. Strong risk to reward ratio as usual. Not the end of the world if this doesn't go to plan. Only 0.5% - 1% risk being used. Risking ~24 pips to make ~124 pips. R:R ~ 1:5
the price current moving facing support at 1.1352 & resistance at 1.1445 while moving in a downtrend channel. now if price respects the resistance & closes below the support, then price continue moving in respect to the downtredn channel creating new lower low. And if price breaks out of the resistance then it could go for some retracements & possible short trades...
GU has been on a sell for the majority of 2+ months. Following that bias - I am waiting on a pullback - after multiple market shifts. Enter back at demand and look for a win (on a weekly TF) to supply. This is an idea, thank you for checking it out.
My set up indicates a short sell then we hoping to see a huge Bullish move
Confluences: Price near daily support Previous weekly candle closed bullish 5 min bullish push above 10EMA
Everything is on the chart low risk trade would be to wait for a retracement before an entry
My current outlook on GBPUSD. Right now we are in a middle ground for this pair. The Daily and higher timeframes are bearish and we are approaching a resistance on these higher timeframes. On the H4 and lower, we are in an uptrend currently. For me to look for price to continue bullish, I would need to see price respect the key psyc level and H4 exhaustion zone...
This is the GU setup I am currently looking for around the 1.16000 psyc level where I would like to see support form on the H4 timeframe to continue the current H4 uptrend. The fib target is directly at the Daily timeframe support/resistance level so that is perfect area to key on. GU approached the Covid Lows made for the first time since March 2020 so this...
Waiting to see what this candle closes as, currently quite a strong red candle. Failed to break resistance and now looking to drop. Very healthy RR.
GBPUSD just created a new high at 1.1695 after breaking out of the previous resistance at 1.1642 while moving in respect to a new formed uptrendline and it also has a key support zone at 1.1605. Now if price continues to respect the support zone at 1.1605 and makes a breakout above the recent high at 1.1695 then it could continue to push up to the next resistance...
First full week of the new month. My expectation is that market will grab sell side one last time possibly with a big push, and then chase buyside from late last month. Ultimately I think the month will close red however. Only seeing shorts at this point in the week.