As shown in this daily chart there have been about 9 false break outs above the 1.495-- resistance level, all of which resulted in a reversal pulling down way below the resistance level. Some of which reversed in the same day, only down around the 1.49--- level. Most however shorted down to the 1.48--- support level and some even shorted down to the 1.46---...
Took a short on GBPJPY at 178.40 after price hit the 200 day MA and the 38.2% fib. We also hit our 4HR trend line. Price reacted nicely & bounced down to close the day with a shooting star, another bearish sign.
This trade fits with my fundamental outlook on GBP which should remain under pressure in the near term with Labour now leading most polls over Cameron,...
The GBPUSD has been ranging for a just over a month now but this choppy consolidation began to show signs of movement again by the end of last week. This week we have finally seen some real movement and it appears to be ending with a nice little set-up.
There is some heavy resistance on the Bullish side with the 50ema laying on thee 1.5000 level, which has acted...
Factors of confluence: - trade is with the trend (see trendline)
- doji forming (waiting for weekly close)
- rejection of .618 retrace (again waiting for weekly close)
- rejection of 50 EMA
I'm waiting for the weekly close and Canadian CPI figures to take this pair long. So lets see what happens. Patience is key!
LOTS OF UNCERTAINTY WITH GBP BECAUSE OF THE ELECTION WHICH IS CAUSING THE POUND TO DEPRECIATE. PRICE BROKE OUT OF THE RANGE LAST WEEK AND IT IS NOW LOOKING TO RETEST THE RANGE LEVEL (SUPPORT TURNED RESISTANCE). THIS IS A TEXTBOOK TREND CONTINUATION PATTERN (BREAK,RETEST,CONTINUATION) IF PRICE MANHES TO RETRACE BACK UP TO MY SELL ZONE I ALSO HAVE 2 FIB CONFLUENCES...
We can see here, that the price is jumping off the bottom of both the linear regression, the BBand and strong support at about 1.93453. This to me is a clear retrace and reverse signal.
From my analysis of fundamental analysis, the GBP is way over sold, and the political instability will not continue for too much longer. The one head wind this pair faces in the...
After reaching the top at 1.95 GBPCAD is now in selling mood.
The red area plays as a support/resistance.
Either we see a pullback from that point or a sell off.
I think we should see a test of the descending long tern trend line. That's why i short it.
This trade based on price action. It is also based on my previous trade idea
I am still of the opinion that GBPNZD is at major support area now (two upward trend lines). One another trend line (red) is supports my point of view.
From this area that pair can go higher.
GBPJPY got rejected at its 61.8% Fib of the 189.71-17549 decline and is looking primed to extend its declines towards the 170.82/168.02 target zone. All that stands in the way of the bears is the 175.49 February low. A confident break of this level will increase the probabilities towards it target zone. Intraday 176.79 is resistance. Bears have the upper hand as...
PRICE HAS JUST MADE A HIGHER LOW WHICH LOOKS LIKE A GOOD OPPORTUNITY TO GET IN WITH THE UPTREND. THIS COULD BE A GOOD CHANCE TO GET IN BEFORE THE RBA STATEMENT ON TUESDAY. THEIR IS A VERY GOOD CHANCE THE RESERVE BANK OF AUSTRALIA (RBA) WILL CUT RATES WHICH WILL SIGNIFICANTLY WEAKEN THE AUSTRALIAN DOLLAR WHICH WILL CAUSE THIS PAIR TO APPRECIATE. THE REASON WHY IM...
After we finished last week with a HUGE bullish pinbar on the GBPAUD (see: www.forexvader.com) , it looks like we might be able to ride the GBPJPY up too, with the confluence playing in our favour.
The GBPJPY has been retracing in this descending triangle since Dec '14. Having been rejected from the 176.5 Support and the 0.618 retracement previously, price is now...
The GBP/AUD pair has endured a powerful bear market since 2001, however, many correlating indicators are suggesting that we may be close approaching a confirmed pivotal change in the dominant trend.
Our first major indicator was the cross of the 50/200 Exponential Moving Averages which occurred in January of 2014. The last time these indicators crossed...
NOTE:
I am sure there are several economic & fundamental factors at play in this pair as is always the case in all financial instruments. However, I am not considering these and are analysing price chart from technical perspective alone.
It is hard to make any long term accurate projections using any form of analysis, so price path illustrated on the chart are...
The current trend is controlling by bear which is pretty obvious concerning the fundamental issue. So I'm expecting the market may fall more. There is also a Gartley completing around 171.5 and a ABCD completing around 171.12 which can be a good point to buy the pair.
But before that, let us have to wait to break the golden ratio 61.8% which is around 176. Else,...
