GBP/USD - 240 Chart - Bat Pattern GBP/USD last week gave us +240 pips at the completion of a previous Bat Pattern ( Blue Pattern) Here now on the 240m chart of GBP/USD we have another nice Bat Pattern setup ( Pink Pattern ) We are on the 4h chart so this is some time yet from completing, however it is more beneficial to be 1 step ahead at all times. We must...
The trade Long or Short GBPUSD. This pair is forming a nice wedge pattern on the 4 hour chart. With the BoE interest decision coming early Thursday morning we are not sure which way this pair will break, but it will break out of the wedge pattern. We will be going Long with a break of 1.53750 or Short with a break of 1.517000. Our stop will be the ATR.
TEXTBOOK SETUP. PULLBACK TO THE 38.2 FIB WHICH IS IN LINE WITH STRUCTURE LEVEL. AUD IS STILL FUNDAMENTALLY WEAK, THE CURRENCY NEEDS TO GO LOWER TO SPUR GROWTH SO PAIRING IT AGAINST THE POUND IS A HIGH PROBABILITY TRADE BECAUSE THE POUND IS THE 2ND STRONGEST CURRENCY AFTER THE DOLLAR. WE'VE HAD A TWEEZER BOTTOM AND SUPPORT FOLLOWED BY A HAMMER REJECTING OFF THIS...
We can clearly see the reaction to the downtrend signal expiry. I'm looking to buy a breakout above the 10 period MA here, which would put my entry at around 1.53849 to be safe. GBP has been lagging the Euro and Crude rally, so it'll be interesting to monitor all GBP pairs for long setups now. Will update with the entry and scale in opportunities. Good luck, Ivan.
We have just seen a major bullish engulfing candle smashing the previous 3 days. This also comes as the price bounced off the halfway point of the fib. We also have a bullish break of the major trend line of the 4hr chart. So my overall price target is the previous high of 1.582 and might look to take some profits at 1.5692. My stop is placed at 1.51344.
PRICE MAKING HIGHER HIGHS AND HIGHER LOWS INDICATING THIS UPTREND IS WELL INTACT. TRENDLINE IS ACTING AS A GOOD SUPPORT SO IF WE GET A PULLBACK INTO THE TRENDLINE/189.000 THEN THAT WILL BE A GOOD LEVEL TO GO LONG. IF PRICE BREAKS RESISTANCE THEN THAT WILL ALSO BE A GOOD CHANCE TO GET LONG/ADD POSITION
GBP/USD - 240 Chart - Bat Pattern Here on the 240 chart of GBP/USD we have a nice Bat Pattern setup. D leg completion at 1.516 giving us a nice reversal zone. We must see a completion at D leg before any long entry is triggered. - SL must go below X - Target 1 at 38.2% retracement - Target 2 at 61.8% retracement Good luck.
Conducting Top down Analysis, we also have several scenarios on GBPUSD. The Daily time frame demonstrates the bears have lost momentum. Price has been trading in a descending channel. I believer price would reach 1.5400 at least before it continues its downside momentum; however there are also signs of a potential 1.5500. If price breaks above 1.53400 then there...
The price is in strong downtrend. It just passed the level of 1.53348, which is the 38.2% fibonacci retracement level and it is heading towards the 50% level of 1.51880. We should wait the reaction at the opening of the market. A movement below the level of 1.51880 would lead the price at the area of 1.5041/1.4968 which is a buyers territory.
BOE is the only other central bank talking about rate hike and so for me GBP is the best candidate to fight against the USD strength. Technically we have been range trading since 2009 and at the moment we are in the lower part of the range, furthermore my eyes see a good reversal pattern forming, not yet confirmed.
Price is on the support cluster and now is a good opportunity to buy up to resistance cluster. After that we will continue the sale.
HAVENT POSTED ANYTHING FOR A WHILE AND FORGOT TO POST MY ANALYSIS ON THIS A FEW DAYS AGO. BASICALLY THE BIAS ON THIS PAIR HAS MOVED BACK TO BEARISH. TRENDLINE BREAK AND WEEKLY/DAILY PA GIVING SHORT SIGNALS. TARGETS ON THE WAY DOWN AS YOU CAN SEE ARE 1.51 FOLLOWED BY 1.4650 IF THE SUPPORT AT TARGET 1 IS BROKEN.
Here is a potential entry long that I have been eying up since 22nd of May. It could be the completion point of a BAT pattern and it lies on the trendline I drew in equal distance away to the existing channel. Lets see what happens.
Following on from my previous post in Cable of trying to identify a BAT pattern whilst we were around 1.5670 the price is now near completion of this potential BAT pattern. Taking a short down to this level would have been quite successful, even identifying a potential BAT pattern early on before the classic buy at completion. Now the price may rise from around...
The price go over the high of December 2014 and trying now to go over the high of 21st of May. Having that the trend is bullish and the price have overcome two crtitical level my next target is the fib extension level of 190.83
details and approx. levels in chart. (pattern statistics by Bulkowski). good luck
Last week chart: 2 WINS Profitable pullback ( I don't trade these pullbacks ) Profitable movement up ( I made 95 pips ) We had a bearish engulfing candle on the Weekly chart + finished on friday with a shooting star candle, that closed under the resistance level of 0.712. This all happended after a break of the previous TL ( which can now be seen as the...
Long term I am neutral on this pair, however the recent EUR pull back brings about great opportunity to buy on the dip as it seems to be respecting the technical levels. The trade setup is explained on the chart, looking for a short term trade on this - however I feel there is further upside potentially. Many thanks