GBPUSD has broken long term support 1.4700 This creates a nice short opportunity Happy Trading!
StochRSI on 4h and 1h indicating a good entry for both a scalp and hold long. We're dipping into lower boll band on the 4h. Last time that happened way a day before last pump. Will wait for a fill when 12h ema is tested. Will probably hold this one for a couple days. First target higher starc bands. Will gauge momentum of the rebound (if there is one) to decide...
In trading it is important to maximize the effectiveness of your trades and EURUSD may present an excellent shorting opportunity in the week to come. Leave your comments if you have any and happy trading.
just a simply chart with the price evolution in weeks terms.
The last set of previews lacked more classic analysis, which seems to be a gap that I filled in this one. I got it wrong for a lot of reasons, that`s why I'm using more modest data right now. As you can see, the trade is 65% long and 35% short, I'd be careful on entering this one on Monday, as a breakout is needed to a proper position opening. Watch for the fib...
Similar setup as the EURUSD. Swing based, but this time instead of resistance/support, I'm using fibonacci as guidelines since it seems more appropriated. If the breakout happens, I'd exit the trade, since I don't expect a swing up before going down, we could see the bullish strong trend again.
Plans for both sides for the next year. The upside is more likely in my opinion and has the potential to continue beyond my target of 1522. The downside is limited. If it continues going lower from 830, you can assume we are in a gold crisis or something like that. Anyways, once the current correction down from 1900 is over, you can expect a steep reversal and...
GPB is at 78.6% fib retracement area - support area which may hold. Fridays bit disappointing US data, may see pull back GBP to resistance area - 1.7 - RSI strongly oversold being at 10.12 supports idea of retracement to 1.7 key very psychological level for GBP. worth noticing is that last week was 4th in a row of correction in GBP. I would be looking to place...
possible scenario. Chart is autodidactic.