BULLISH COUNTER TREND CHANNEL DURING A TWO YEAR BEAR MARKET DOJIS POST A BEARISH PULLBACK 50% FIB RETRACEMENT
After a few days in that "indecision box" as I call it, the price has broken down, retested, failed, and will more than likely continue downwards. Not many people use the 180m chart but I find in quite useful on this pair in conjunction with the 200EMA and as you can see, the price respects the 200EMA quite well. Only thing that could completely derail this...
The 20-day ADR was missed on Thursday and Friday. Moreover, the 20-week AWR was missed as well (both upside and downside). Price expansion is much expected next week. I am still bearish GBPJPY hence I am looking for bull traps at the levels I have illustrated on the chart Expect updates in the trading days next week in reference to this post.
A small pullback might happen before rocketing higher. More info. on the chart
I am intraday bearish bias for Sterling today (both technical and fundamental rationale). I have marked levels that, if reached, will wait for a bearish signal. Price could go further down without tapping in these levels, which I would not chase. Let the price comes to me. The daily range yesterday was small compared to the 120 pips 20-day ADR so I am expecting a...
Selling the pound into 1.23750. Solid market structure suggesting downside to commence. Stops planned above barriers of resistance - entry secured on the 1H chart. Time to ride it on down.
Looking for buy at 1.24 and sell at 1.255 area.
I don't need to do hindsight analysis/review of this pair (any pair really). I can say this though.. that stop hunt during a risk event? "experts" in the media claims the spike was a headline reaction . The fact that Sterling was BID literally 5 minutes before the confirmation of the supreme court it was claimed by the media experts that it's due to "buy the...
*Yellow = 200 EMA | Blue = 100 EMA This update is for OANDA:GBPCAD . I predicted (accurately) that price would find support at ~1.58165 , and it successfully rebounded off of this is level and has found resistance at ~1.65918 . We currently pushing off this resistance level and first found support around mid-August. The close on Friday (Sept 20th) is...
Quick update on GBP pairs. It's rallied into some key resistance levels on my charts. This could potentially signify exhaustion and lead to speculative selling/profit-taking in the very short term. Keep a watch on the formation of this daily candle, if it posts some kind of inverted hammer or outside day, then I may look to sell some GBP pairs next week in...
Referring to the this post 2 days ago : The daily range for yesterday was 100 pips roughly whilst the 20-day ADR was 130. I would consider it a hit. Today's 20-day ADR is 132 pips and I expect this will be reached today and hopefully to the downside. I am still bullish the Sterling and I am looking at liquidity pool at 134.600-134.500 and 134.00 price...
In another two days Sterling going to face Major central bank meetings. As my point of view still sterling in corrective phase only both sort and medium term. I am looking for sterling reverse from 1.2500 psychological level.
Trade Idea Broken out of the channel formation to the upside. We have a 38.2% Fibonacci pullback level of 1.2116 from 1.1851 to 1.2279. Bespoke support is located at 1.2116. There is scope for mild selling at the open but losses should be limited. Expect trading to remain mixed and volatile. We look to Buy at 1.2115 Stop: 1.2065 Target 1: 1.2270 Target 2: 1.2345