GBP/USD has finished a 3-wave ABC move to the upside like analyzed prior (blue target). The pair could now be watched for reversals. However due to the news this pair has become very volatile so at the moment I would just watch from the sideline. It is possible that we get an overshooting in which case the pair could reach the second target (pink). Eitherway the...
Pound is keep showing weakness against Dollar. Even though shorting at the Range High seems like a good idea, there is still untouched liquidity above. This setup gives a better R/R although being less likely to happen. Playing safe is important.
Please let me know if you have any...
Few days ago we created a support and resistance for the Cable that when it breaks, it will continue. However when market is manipulated nowadays it is tricky to see which will it go later.
However because of the ISM Manufacturing last night, it gives us an idea where the high chances that it will go. Always use a proper risk management because a Trump tweet or a...
Priceline of British Pound / US Dollar forex trading pair is forming a bearish Shark and entered in potential reversal zone to start the formation of last leg soon insha Allah.
Price action is also hitting the support of bollinger bands.
RSI is oversold.
Volume profile of complete pattern is showing less interest of traders at this area.
If we see the movement of price action US Dollar / Pound Sterling then it giving easy profits within the channel by hitting bollinger bands support and moving up even most of the times it is not hitting the channel's support but moving up after hitting the bollinger bands.
But this time it is hitting the channel's support and the lower bands of bollinger bands...
W- three weeks of consolidation.
D- Consolidation zone broke, re-tested/ closed.
4h- Currently at consolidation zone's resistance level, might fly up to 1.275. Awaiting on fib retest to at least 38.20%.
Reversal XABCD pattern up to 1.2200
SL should be below Daily candle of 1.20 or 1.1980 zone.
Medium to high risk - we could drop 1 more leg down before a reversal should we not break above 1.2080 by end of Europe tomorrow.
On Hourly we have a left shoulder into a drop making a head formation with an adam and eve pattern. There is a lot of volatility here around...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.212.
But the short term forecast is range bound, so we expect to reach the following targets:
Set the stoploss of these orders at breakout of S2=1.21.
Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of...
Give me a sign Fibonacci! GIVE ME A SIGN!
I think Gbp is gonna turn its frown upside down! But when and where? What seems fair?
Why should my broker care to share?
Would you pay half price for that fruit you got there?
Look at all the GREAT BRITISH POUND PAIRS! And maybe if your a tortoise instead of a hare, this trade idea...
The pound is actually on the very oversold area. Also, Fomc stated rate cut will come, GBPUSD will go up. If only the new prime minister from the UK say something positive things toward Brexit, the cable can start the strong move. Right now, it is hard to see the supporting yellow line or 1.25 area to break. From the technical side of view, the cable needs to...
We can see here that it goes up by 100 pips after it goes down up to 1.255 last Friday. This is not a signal for us to do anything because there are tough days ahead especially Theresa May's resignation date is coming this week. With NonFarm Payrolls and all of the high impact news this week, I would prefer watching Netflix than risking my equity onto this...