The Pound will rally to previous structure lows before retesting last weeks close for a potential 38.2% Retracement downwards. No Significant bias on this move, the aim is to simply catch this retest for profit and trail as it progresses. My outlook is nothing less than 50 pips profit with a 15 pip stop loss. Almost 1:4 RW%.
As expected, GBP increase could not be sustained at the beginning of 2017. GBPJPY keeps setting new lows, all eyes on supreme court appeal decision on Brexit.
Fundamentally, GBP is in a chaos and there are no reasons to expect a strong Pound Sterling entering 2017 given the indecisiveness of politicians and investors' unwillingness and disinclination to back GBP....
Day chart: Yesterday's big red candle indicates short bias on this pair. Price may keep going down to test 1.6800 support.
4 Hour chart: Wait for a consolidation to see if there is a reasonable stop loss when price breaks yesterday's low.
Hi Traders,
GBPUSD broke out of the upside trend line and the move down has stalled within previous structure.
Price now must close below 1.122000 to confirm further downward bias.
With the Supreme Court ruling on if the British Parliment must vote on a deal to leave the EU due mid-Jan we may see price trade sideways until the verdict is delivered.
The...
Expecting to touch the daily resistance, and then going down.
My targets:
1: 142.545 (weekly supp)
2: 141.012 (long term trade)
Enjoy and hit the like button
albx
Hello Traders,
Here is a great long opportunity in GBPUSD with little downside risk.
Dark Red = Very High Probability Target
Light Red = Medium Probability Target
Best,
Chartistry
Last week Supreme Court ruled that UK needs to have a parliamentary vote for Brexit
REFERENDUM NOT BINDING
Fundamentals give reasons to have faith in GBP again; strong yen hurting Japanese economy
Close above Fib on daily and strong BULL till the end of the week, even in a longer term.
What holds the most information value: A falling Sterling post-Brexit, or rising Gilt yields? I expect to see this resolve in the direction of yields...
I tend to watch trends. Higher time frames show the bigger picture and avoid much of the noise within 30 min and 1H time frames. GBPEUR or EURGBP is at a crucial stage.
The following on GBPEUR taken altogether may be indicative (not predictive):
1. Very low cross of Aroons on 1D
2. Vstops (20,4) signalling change of trend on 1D and 4H.
3. Price favouring to...
This is the combination of pattern + wave analysis.
Bear flag = consolidation before continuation downside.
Price could test the upside of the channel before a drop.
Target for C = 1.1790 (61.8% of A) or 1.1204 (100% of A)
Flag's target is quite ambitious = 1.1037 (that's why I prefer wave targets to calibrate the goals)
