FAKEOUTS GALORE! GU proved a worthy adversary this week given the fundamental impacts of brexit and elections. We were sat in 3% profit on Monday above 1.30 and held until BE tuesday before we got caught in another fakeout. Nice little double bottom forming for next week but I want to see the weekly close above 1.30!
short after deviation @ range high. - TP1 --> Mid range - TP2 --> Range-low
CABLE IS LONG! Clear inverse head and shoulders here complete with a break of the neckline, now looking for the retest before taking a swing up to the previous 1.35 highs for a 1:10 RR! There is no technical reason to be bearish here. However, keep in mind not only the US election but Brexit and GU will continue to be choppy; any trade taken will need an added...
Going into next week we want to see this strong bullish move to the upside finish off and begin to look for reversals around 1.31864. EMas have potential cross at this level previously making it a very strong bearing play along the 1.31885-1.32000. any "noise" in this area will most likely trigger hard sells all across the board. not to mention news for next...
GBPUSD gonna bearish in short time frame. Correction required. Minimum 40pips
Price is currently hovering but I see an intra-day retracement opportunity. I think we will push down further long term
GU try to create I H & S in 4h timeframe with hidden Bullish divergence.
TECHNICAL POINTS: Daily Fib 4hr Fib Pennant 4hr resistance 4hr Inverse Head and Shoulders 4hr 800EMA 4hr 200EMA Buy Confirmations: Break of pennant, close above 38.2% Fib and neckline of Inv H&S. This would also close above the 4hr resistance and break the 200ema. Sell Confirmations: Break of previous lows, 61.8% fib and the daily ascending trendline forming the...
Perfect entry on GU last night! Now we wait for that bad boy to bleed..... . FX:GBPUSD
GU Gonna Bullish for few hours and after DXY 93.75 Bottom than Gonna demand zone
BULLISH PENNANT FORMING ON 30M CHART ENTRY 1.2850 SL 1.2820 TP 1.2917
I have been working on other stuff but I will try to focusing more time on trading - Long Term I see GBPUSD to the downside. - I m waiting for the 5th wave to complete. - If price break wave 4 then it must definitely going up Use good risk management. This is a long term trade. Goodluck
Technical: Weekly ascending trendline Weekly orange fib daily white fib 4hr grey resistance daily red support 4hr descending channel daily ascending structure Hh's Hl's Buys: Break of 4hr resistance Break of 4hr descending channel Target-weekly 61.8% fib Sells: Break of daily support Break of daily 38.2% fib Further sells on break of weekly 38.2% fib and trendline!
so those of you that saw my analysis on GU last Sunday would have seen how the trades played out, caught 320 pips 3 played out and one break even. GU has now struggled to break above and below so we are still just corrective (forming a deeper bearish pattern) my bias is still short and will see how Sunday/Monday price action moves. still 150 pips to take in my eyes. 3:1 RR
break the higher structure, and my opinion is going lower to the lowest structure, and if break, the price can go deeper.
All annotations are indicative of how I entered this trade, any comments and critique are appreciated.