gbpusd has completed the formation of wave c( which came in a rising wedge pattern). breakout to the downside is expected to happen.
Another false breakout before reversing down? Only time will tell.
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