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- For sure one of the most easy forex trade setup that i saw in my entire life.
- Buy = 1.05
- Sell = 1.24
- Under 1.05, just go to a church and pray.
- Feel free to check my older DXY analysis to get some clue :
Happy Tr4Ding !
All those who love to trade UK100 need to see the range bound activity of index between 6700 to 7700. For a very long period of time it has been moving with in 1000 points range and this could be the signal of any big move in coming period if it moves in any direction with big volumes .
But until unless it doesn't clear out this area best strategy to trade is buy...
REASONS TO BE BULLISH
Price just reclaimed the 50 MA and is hovering right at the 100 also (£1,817).
RSI on the 2 week chart recently turned bullish, coinciding with reclaiming the 50 MA.
Trend line + MA cross = Bullish Entry. These are my favourite trades when the two signals cross the threshold on the same candle. Double confirmation.
$GBP - What shall we do now?
GBP - Since we hit below 1.14 - 1.10 it's really been a one way for this pair and it could continue...However, we have options!
1 Emergency rate hike
4 Fiscal spending
5 Swap Lines
Now these are the options technically speaking we filled gap around 1.09 this morning, I expected 1.06 on table during open...
Japan GDP growth drops 1,2% YoY, and it is followed by a increase in covid cases
In the chart we can see:
76,4% FIbo could be the next support, because has already been tested the line after the breakout occured at 9AM GMT, and the top line of descending channel was tested twice after that, followed by bullish candles crossing EMA
MACD and Signal is already...
• Bearish picture still intact for the pound
• Dovish BOE, recession risks weigh on the sentiment
• Technical picture points towards weaker pound in the period ahead
• Bulls and bears fighting around the resistance line dating back to Feb 2022 highs around 1.36
• As long as bears are able to defend the trend line resistance, they still got the upper hand
Price is testing the support for the 4th time, such as MACD.
We can see the columns in MACDS indicator losing power, and the line crossing each other.
About candles we've a three inside up after testing the support, show us a bullish signal.
And to conclude the Reerve Bank of New Zeland says "economy will slow as rising rates curb consumption", the houses...
The pound had rallied against the Aussie for a while. But then we went into a large consolidation pattern. This looks to have fake'breaked to the upside and now is making moves lower.
We could get a continuation pattern at a break of this morning's lows. The best thing to do would be to overlay a Wyckoff schematic and see if it could be the end of a distribution period.
EURGBP is making HL, and with a support tested at October 17th, now with 3 HL we've the perspective about a short position, if more than one full boy candle cross the support. Because we've a descending triangle, but we need stronger candles to prove the short position, in fact of the support was tested during Tokyo and Sydney sessions, however the trend made...
Trade Idea: Buying GBPUSD
Reasoning: Gap at 1.1170 providing support. Hoping for a quieter day in the UK Government?!
Entry Level: 1.1216
Take Profit Level: 1.1430
Stop Loss: 1.1167
Disclaimer – Signal Centre. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of...
It doesn't take long to look through UKs statistics to find a dumpster fire.
United Kingdoms bankruptcies are reaching highs from 2008 showing an early indication of Insolvency Contagion.
More charts to come as the Fire Sale continues.
Check out my other 2022 Dumpster Fire Charts