The cable is in a bearish trend and we can clearly notice the 5 impulsive waves, now the price is correcting and we expect the C corrective wave to be formed in these days.
The elliot theory combines perfectly with a very strong MACD divergence.
Pay attention at the news affecting the pound and the dollar this week.
The cable has had a strong recovery in last trading days and has broken a small falling wedge, now the price is on the 50 day simple moving average, we should see by this evening if the close will be above or below that MA. In case the price closes above the MA we might consider to buy gbpusd because in the bigger picture (weekly chart) we can notice that price...
Great Sell Stop Set Up.
The DXY has been soaring.
If GBPJPY is in a pull back look for price to smash through our buy stop to our TP!
With a very TIGHT SL to protect our investment this is a very High Probability Trade Set Up.
Never over leverage.
Never risk what you can't afford to lose.
Happy trading Family!
GBPUSD short! There's a lot of volume in the current area, the Pound is testing the 200 TEMA and downtrend channel., is very likely that it re-test the 1.36 area and the main target is 1.34.
GBPUSD is consolidating in the 1.4100 to 1.4220 zone.
Prices yesterday manage to pierce through the 1.4220 reaching as high as 1.4250, but eventually failed to close the daily candle above 1.4220.
For now, its immediate resistance is at 1.41800. A break in this price level may trigger a bullish move for GBPUSD and retest its new resistance at 1.4250.
GBPUSD Trade...
GBPUSD Trade Idea
Time Frame : 1H
Sell on resistance at 1.41700
Target Price: 1.41400
Stop loss: 1.42000
Reasons for Selling
>Resistance at 1.41800 is respected. As we can see price rejection at 1.41760 during the asian session
>Expecting a pullback during the pre london and london session until 1.4140
If you like this idea or have any comments, I would love to...
Actually GU has already broken one of the major resistance lines to continue bullish trend.
But I think there will be some bearish movement for short term, based on technical analysis.
However it may not be worth to risk in this situation in terms of risk reward ratio.
good mornings traders today i am having a look at the Gbpusd short trade and i sitting waiting on confirmation for the break to the down side to trigger short positions i have. tips for this trade is wait for a clear break a retest and then the rejection as the final confirmation to start heading to the downside.
GBPUSD is still strong with 1.300 support level and 1.3185 resistance level.
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Both the weekly & daily outlook is bullish. The price on the 1 hour chart is reaching solid support so watch for any price action entry reason to long the cable.
R/R = 2.06
Enjoy your Sunday & have a great trading week ahead.
All comments welcome!
The cable has stopped its C correction wave right on 50% Fibonacci retracement of the first Impulse in h4 chart; we can clearly see a Cypher pattern, now price is in PRZ and there are good chances for an upside movement until 1.2390;
in h1 chart Rsi has just crossed 50;today USA data were mixed and the inflation CPI meets the forecast but 1.8% is STILL UNDER FED...
The pound is actually on the very oversold area. Also, Fomc stated rate cut will come, GBPUSD will go up. If only the new prime minister from the UK say something positive things toward Brexit, the cable can start the strong move. Right now, it is hard to see the supporting yellow line or 1.25 area to break. From the technical side of view, the cable needs to...
in h4 cypher then in h1 we see a divergence in rsi (not a strong one), priceis also in support 1 calculated with pivot point and sellvolumes are slowing down; possible buy risky trade counter trend
take profit 1: 1.29427 ( if you decide to go for this target set a stop loss at 1.2898)
take profit 2: 1.3077 ( this is a swing trade set stop loss under 1.286)
thank you guys
GOING SHORT ONCE MARKET OPENS SINCE "BREXIT" IS COMING UP THIS WEEK GBP PAIRS WILL HAVE A LOT OF VOLATILITY LOOKING TO GET IN AND GET OUT BEFORE MID-WEEK
