GBP/USD felt to really important level if there's an chance that it will conitnue the uptrend that we might be just getting to the entry point at the moment. There's an confluence of green marked Demand zone, 50% Fibo retracement of last swing up (1,669-1,719), daily trend line and the previous smaller leg up low at 1,685 level (red circle). Todays down move was...
I've shared this 4 hour chart to illustrate greater insight on the entry and exit points, but the daily chart illustrate the bigger idea of buying at support/50 SMA in a pull back. GBP is showing signs of strength -- I'm already long GBPJPY and GBPAUD -- and so I think what we're seeing here are signs of accumulation. I think the lows of this past Friday, July 25,...
This is a trade I will not be taking if it doesn't meet the test of time. After taking the time to reread Carney's books, he mentioned with emphasis the use of time in regards to harmonic completions. From Carney himself: "Although time considerations are not as significant as the factors of price, an understanding of when a setup should complete can optimize...
This morning I recorded a video looking at a bullish Gartley opportunity that I missed. By the time I got my orders in price action had move well beyond the original entry point offering a much better risk/reward. Hours later we are still holding on tot he very last bit of structure and are attempting to put in a double bottom depending on the close oft his...
I've been a bull on this pair over the last month or so but now I've got a short opportunity on my radar looking at a retest of previous structure highs on the daily. As a countertrend trader it's important to realize that I'm not looking for the big long-term move, simply a brief correction. If this correction rolls over more than expected there's a 2nd...
I've been a bull on this pair over the last month or so but now I've got a short opportunity on my radar looking at a retest of previous structure highs on the daily. As a counter trend trader it's important to realize that I'm not looking for the big long-term move, simply a brief correction. If this correction rolls over more than expected there's a 2nd...
* I tried to post another chart with this showing the advanced pattern, but think I messed up doing so. I'll keep trying but here's the daily view that was suppose to compliment my other chart** SORRY GUYS I've been a bull on this pair over the last month or so but now I've got a short opportunity on my radar looking at a retest of previous structure highs on the...
Last session the market printed Bullish Candle @ Ts on the daily chart ... we will see Cloud breakout as prices are driven into movement towards the resistance 1.848x.
After GBP/USD broke its historical resistance from 2009 (1,71) it did not show any strong force or movements to go into the sky. It stabilized around 1,715 and showing divergences for an upcoming reversal into a Shoulder Head Shoulder Pattern for going into the old zone at 1,69.
GBP/AUD After consolidating inside a descending triangle pattern, showing a potential range play longer-term bias for swing.
2H Chart: as this pair has been in a slight over-buy lately with no BoE releases supporting it. I believe we will see a greater decline in this pair. Keeping in mind, I have a strong feeling this pair will be a long-term decline. I'll be opening higher-leveraged units on this pair to ride the coaster. I'll also be taking a quick look at some BoE releases if any...
1D Chart: My first prediction of GDP news is that it will hit down to 1.669 and back up to 1.680. If we do see the market hit 1.680 we could definitely expect a bounce down in the market. It should not go lower than 1.5306 - 1.5261. After this move down it should go up to 1.5377 - 1.5404 area - near this time though we will be nearing mid-next week.
These are the levels I will be watching for bearish PA. Weekly looks set to post morning star but lets see what the rest of the week brings.
$GBPUSD may break the Resistant line at 1.6990 but it may possible to retrace before it break it. At the moment, waiting for small price formation and expecting a resistant rejection will be good to Short this pair with target 1.6900/800 area.
the pound broke out of last year's high and tested it so now its finally going to rally hard after 5 years of accumulation. On a yearly chart, last year was a low volume pin bar back into a high volume absorption bar so all the supply is out of the market and is ready to rise with very little resistance.
The medium term remains on a neutral to a slightly bearish outlook, as the Aussie, contrary to mass expectation, is poised strongly against most currencies. This brunt should also be felt against the GBPound, against which the Aussie should appreciate in the short term, after emerging from a complex corrective pattern. As of now a contracting (more likely) or...
A close above 1.6869 could re-assert effort to advance to retest high.
Friends, A lot of paper printing has been going on since we first released a Target-High @ 1.68923 on February 2014. This was a long call asking the position trader to hold tight, but a prop pattern justified the initial call, and back with the right predictive analysis and forecasting system, I am glad to see it attain its final destination as of today - Here...