Not only we saw a double bottom on weekly, but we have now seen the perfect retracement on daily to the neckline at 1.7110 Also this ending diagonal on hourly, would provide us with a valid long entry. What are we waiting for? For a retracement on daily at the mentioned level of 1.7110. No solo hemos visto un doble suelo en semanal, sino que también hemos tenido...
GBPJPY is showing a nice buy setup on the 4 hour time frame and its also forming a cool bullish wedge on the daily time frame. You can see that its has been trading nicely in its range now and is now inside that range also forming a bullish wedge from which its about to break-out.
This assumes shock (against the odds) hung parliament / Labour Victory. Order to open amid volitility @ 0.87 target pevious highs @0.91 T/P halfway S/L todays current price. RR 3.22
gbpyjpy - if there is a significant break from the trend channel that its in. Then you better hold on tight and enjoy the ride. Im projecting 1000+ pips to the upside. Are you patient enough?
Not a fan of cross currency pairs but GBP/JPY is one of the more popular ones and correlates well with USD/JPY. The strong uptrend where GBP was rising and JPY was falling came to an end with the confirmation of new lower highs and lower lows being created. Sterling has recently lost some of its strength after being rejected at major resistance also fundamentals...
It is JUNE! First idea is up! Lets start with POUND BAT formation detected on H4 & D1 chart. Strong support around 1.277x area. I am siding with LONG on this. Personally I entered last evening @ 1.27750 TP target around 1.3000 area. **Same, cautious for NFP data tomorrow :)
Major daily resistance at 1.3000 was approached and rejected last week, a series of lower highs were being created after reaching 1.3000 price zone which resulted in a 150 standard pip drop to end the week, breaking out of the slow moving upward channel. Expecting lower highs to continue after a pullback (patience is the key) due to weaker gbp data and...
A lot of consolidation going on for the past couple of weeks. It is looking for the proper direction. If it breaks upwards, it will go to 2.0+ but my bias is a downward move. AUD has been sold off aggressively across the board and Sterling will be tested with the General Election coming up. The conservative party is losing some steam. This is not the most liquid...
As you can see in the chart there are potential trading setups in this pair. If you are not familiar with the fibonacci inversion trading setup I will update later this Idea with an educational post. As far market is trading below a significant level. Although technical analysis maybe justify a short position from that level. This is not part of my trading plan. I...
taken a position again long gbpusd. have traded this every day this week, i think i may be sat in position without much movement until afternoon session as lots of US data and Draghi speaking. The momentum to the upside feels like its slowing for now although the 150 EMA and highly visible trend line are holding up well. UK politics weighing down GBP perhaps,...
I'm back and improved! However the RSI is overbought on the daily, still think theres an upmove ahead based on the technicals. I'll be watching this pair closely @market opening. Enjoy your trading!
BUY AT 0.84940 AND CLOSE AT 0.85205. THEN SELL AT 0.85205.
We already SHORT in GBPUSD, but lets try to get more benefit trying to add some positions! Have a good trading week!!
Quick trading setup at structure level.There is RSI divergence at 1h timeframe. You can use more tight SL if you want according the price action
SHORT GBPUSD... RETRACTION BEFORE BUY, MID TERM POUND ABOVE 1.3200. HAVE A GOOD TRADING WEEK!!
Chart says it all. I'm keeping this simple.
Price has been in an bullish channel. We have now seen a break so now can look to take it back down to the lows.