Price moving in respect to a very recent downtrendline keeping 1.1651 as its recent resistance. So if price in respect to the recent downtrendline & resistance breaks out of recent low at 1.1598, then price could continue pushing down.
Price could push to 1.1794 if breaks out of 1.1758 as part of deeper pullback in respect to the downtrendline and then continue to go down. but if even breaks out of 1.1794 then it would be a breakout of the downtrend and shift to an uptrend. And if price makes a breakout of the recent support at 1.1684 then price could push further down by breaking below the...
waiting for a proper breakout of the mentioned zones to look for further trades in the direction of the breakout.
GBPUSD closed the week with such bearish engulfing move after a retest on a newly formed downtrendline. so if gu is to continue moving down then it should keep on respecting the zone at 1.1939 as its resistance & continue to push down by breaking below 1.1716.
GU should continue moving up if it continues to respect the uptrendline. a breakout of the uptrendline or 1.1796 with bearish momentum would lead the price to coming down again to retest the key level at 1.1796.
Price formed a LH on the hour chart and we are in a overall downtrend. With rejection of the 1.18 level I believe price is headed down
Flat seems to have ended. Continue the uptrend to wave C. You may consider Buy with a reasonable Stoploss. You refer to this idea of mine, but this is not investment advice!
GBPUSD short With Elliott Wave Flat is forming on the H4 time frame. In short you can consider Sell This is not investment advice. Just a reference idea for trading GBPUSD based on Elliott wave principle
GU has being rallying down since MAY 2021. It has reach a daily order block, after a bullish BOS on the weekly TF. On the 4H TF structure broke to the downside ( within Jun - Jul), and mitigated ( from Jul - Aug). The second mitigation has taken place on the 1H TF, exhibiting our rules of entry(BOS, 1st Mitigation with LQ grab, 2nd mitigation as trigger entry).
We can cleary see GU in downtrend. We found or zone on 30min where I expect our reaction from,mainly BECAUSE of INDUCEMENT. Both of this clear OB that I selected,I consider them as SMT (smart money trap)... Good luck :))
This pair is different of EU. But still the same things gonna happen here. We are in strong downtrend here, but local downtrend almost broken. We crossed the 200 EMA up and hit 2 trend lines. SO, here we go. We have a great setup to trade. If we brake our downtrend lines we can open buy and next stap is far away near the 1.24. If we bounce off it down, so we won...
Hello all, with the fiasco of reality going on all over the planet. Technicals have been a show.. GU looks to be breaking HTF strucutre in it's weekly downtrend. Therefore, I will be looking for selling opportunities at the supply zones listed. On the LTF side, I'll be looking for buy confirmations to buy towards our POI sell levels. Discuss!