the Pair traded in a range the last couple weeks, however the pattern shows that the upside momentum is still corrective for a downtrend continuation. 7-9-11 swings are related to A,B,C corrective phases in Elliott Wave Theory. tomorrow is the US ELECTIONS results so we will definitely expect high volatility trading, thats why i prefer to put pending orders (...
1. Weekly timeframe: - Big Bearish trend bar after Market reaching to weekly resistance zone. 2. Daily timeframe: - Market broke the uptrend structure. 3. H4 timeframe: - New resistance zone was created near the uptrend structure break. After reaching to this resistance zone, market created a new resistance zone -> This tell us about...
GBPUSD started its selloff on Fridays session as USD strength hit the market on better then expected Non-Farm payroll data. On today's market open, being Monday the liquidity is usually thinner so we have seen price retrace a little higher which could possibly set up a better entry for a potential continuation move lower on GBPUSD. On the 15 Minute chart, we...
bearish channel formed and breakout of previous support.
Similar to my AUDUSD idea, I have technical reasons to believe that GBPUSD is about to make a swift move downward. Short term bear trend here has been obscured by absorbent buying on each attempt to flush out longs. 1:6 R:R On Weekly timeframe you will see a just recently posted bearish engulfing candle. On Monthly timeframe you will see a just recently...
a great 1:6 short setup for gbpusd ,if price goes up i might add on another trade for a better risk reward, money management is key
GBPUSD has a strong support line, its broken through unlike the other times. Entry off the retest of the strong support/resistance line.
Brexit delay, again. Well, I guess bob's your uncle, same recycled story. BoE rate coming this week too.. we think they will lower the rates to continue stimulating the pre-Brexit effects on economy. 1:5 R:R
Completed Butterfly Pattern Price action is inspired by the real life incidents. Any news or happening will result in great downfall or uptrend. As we know manipulations are going so I cannot ignore the invalidation of analysis. Sell : 1.30095 - 1.28432 Best Entry : 1.29679 T/P : 1.27455 | 1.25959 | 1.24732 | 1.23527 StopLoss : 1.32079
Open SELL order - 1.3069 SL - 1.3113 TP - 1.2867 RRR - 1:4.6 Adding new SELL order Reasons - breakout sell level at 1.3068 and retest it
As I mentioned in last weeks post, we are currently testing that 1.29-1.30 support. This area is going to be extremely crucial in determining what comes next but I am expecting a retest of the 1.305 ish price mark before a continuation of the downtrend. The MACD bearish Divergence is now currently confirmed signaling the just now start of that downward trend. The...
I opened short position on 1.2866 and it SL is 1.2886 - 20pips. Short stop and good volume can be used. TP - 1.2710. Far target but interesting. So RiskRewardRatio very good - 8.65 but i think that it is not achieved simply. Lets try catch profit :)
GBPUSD is on the top of his wide flat. He make 1 impulse. Make 3 correction movements with 3 update of correction peaks. And it ready to go lower. First target is second wave - 1.3008. Next targer is 1.27. So SHORT it RIGHT NOW!
USD will be hading up especially with the trade war. Look to to take profit at 1.3600 on the daily. Just sharing my trades. This is not financial advice.
On the 4hour chart a bearish gartley has formed on the GBPUSD. There was an extension of the D leg, and it might extend a little before dropping. I believe this is a good place to place short position. Look for bearish evidence before taking this trade. Cheers