Looking to buy GBP against the green back in an area of support zone where market has tested the zone a few times already, Shorting doesn't make sense until the trend has indeed changed and reversed which so far is not the case so we will look to buy around 1.4080-1.4090 with stops under 1.4060 and targets @ 1.4180 & 1.4240
The long position is taken – 4H -Daily timeframe I checked and last day candle barriers are HL and HH, in 4H also I see the start of a movement from a 4H demand zone, although price broke an ascending channel it was above a fat ascending komu. Also in lower timeframes, I see HL and HH. I enter the long position and the TP is last week High.
R/R = 1:1.1
I hope you are well
In the final analysis, our purchase idea was successful and we made a good profit. But in this analysis I present two hypotheses:
1. The price will reach the resistance zone specified in 1.4142 to 1.4242, and in dealing with this zone and pullback to the previously broken daily trend line, change the trend and start a relatively...
I hope you are well
This analysis is done on a daily basis and has long-term goals.
The last time we analyzed the chart, we had a sell signal. Our sales deal has not been closed yet and about 200 pips entered the profit and returned, but it is still open.
As we analyzed last time, the previous analysis is correct and the chart could not reject the price of...
Fib fan pull + Fib Ext Pull
Rejected at the .382 or breaks above and pulled back down.
Trading inside a symmetrical triangle and expecting a breakout soon
as we close in towards the apex .
Im expecting a move down to the .618 as displayed in the chart in which case
a long opportunity presents itself .
Confluence with the 100EMA, .618...
I hope you are successful and profitable in the market
In the chart, we see a strong uptrend that has occurred in a price channel, as you can see, this movement is sharp and the slope of the channel is steep. We expect a price and correction compression after each Sharp process, now we are witnessing this compression and correction. But we are in a...
GBP/USD has made steady progress throughout the EU session following a close shave at 1.3810 before Cable bounced firmly through 1.3850, 1.3900 and 1.3950 all the way to around 1.3992/3, while EUR/GBP continues its retracement from 0.8700+ to circa 0.8590. Not much in the way of fresh bullish UK specifics or Pound positives, but this week’s domestic agenda is busy...