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British Pound Futures (Sep 2022)British Pound Futures (Sep 2022)British Pound Futures (Sep 2022)

British Pound Futures (Sep 2022)

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6BU2022 trade ideas

BRITISH POUND FUTURES (6B1!), H1 Potential for Bearish DropType : Bearish Momentum Resistance : 1.2201 Pivot: 1.2109 Support : 1.1952 Preferred Case: On the H4, with price moving below the ichimoku cloud , we have a bearish bias that price will drop to the pivot at 1.2109 in line with the swing low support, 78.6% fibonacci projection and 78.6% fibonacci retracement . Once there is downside confirmation, we would expect bearish momentum to carry price to intermediate support at 1.2063 where the swing low support, -27.2% fibonacci expansion , 161.8% fibonacci extension and 78.6% fibonacci retracement are. Should price break intermediate support structure, we would expect price to drop to the 1st support at 1.1952 where the swing low support and 100% fibonacci projection are. Alternative scenario: Alternatively, price may rise rise to the 1st resistance at 1.2201 where the overlap resistance is. Fundamentals: With inflation at 9.1 percent, the BoE raised the UK interest rate to 1.25 percent. Retail sales in the UK decreased by 4.7% year over year as a result of rising costs having an impact on consumer spending. This gives us a medium bearish bias towards the British Pound.
CME:6B1!
by Tickmill
BRITISH POUND FUTURES (6B1!), H1 Potential for Bearish DropType : Bearish Momentum Resistance : 1.2201 Pivot: 1.2109 Support : 1.1952 Preferred Case: On the H4, with price moving below the ichimoku cloud, we have a bearish bias that price will drop to the pivot at 1.2109 in line with the swing low support, 78.6% fibonacci projection and 78.6% fibonacci retracement. Once there is downside confirmation, we would expect bearish momentum to carry price to intermediate support at 1.2063 where the swing low support, -27.2% fibonacci expansion, 161.8% fibonacci extension and 78.6% fibonacci retracement are. Should price break intermediate support structure, we would expect price to drop to the 1st support at 1.1952 where the swing low support and 100% fibonacci projection are. Alternative scenario: Alternatively, price may rise rise to the 1st resistance at 1.2201 where the overlap resistance is. Fundamentals: With inflation at 9.1 percent, the BoE raised the UK interest rate to 1.25 percent. Retail sales in the UK decreased by 4.7% year over year as a result of rising costs having an impact on consumer spending. This gives us a medium bearish bias towards the British Pound.
CME:6B1!Short
by Genesiv
BRITISH POUND FUTURES (6B1!), H1 Potential for Bearish DropType : Bearish Drop Resistance : 1.2335 Pivot: 1.2181 Support : 1.1950 Preferred Case: On the H1, price is moving below the ichimoku cloud and has recently broken out from the ascending trendline which gives us a bearish bias that prices will drop to the pivot at 1.2181 where the 100% fibonacci projection, 50% fibonacci retracement and swing low support are. Once there is downside confirmation that price has drop to pivot, we would expect bearish momentum to carry prices to 1st support at 1.1950 where the swing low support and 127.2% fibonacci extension are. Alternative scenario: Alternatively, price may rise to the 1st resistance level at 1.2335 in line with the swing high resistance, 100% fibonacci projection and 61.8% fibonacci retracement . Fundamentals: UK CPI y/y data was released at 9.1% and Core CPI at 5.9%, with the GBP strengthening through the session, giving us a weak bullish bias for the british pound.
CME:6B1!Short
by Genesiv
BRITISH POUND FUTURES (6B1!), H1 Potential for Bearish DropType : Bearish Momentum Resistance : 1.2124 Pivot: 1.2057 Support : 1.1855 Preferred Case: On the H1, price is moving below the ichimoku cloud which supports our bearish bias that price will drop from our pivot at 1.2057 in line with the swing high resistance to the 1st support at 1.1855 in line with the 78.6% fibonacci projection and 161.8% fibonacci extension. Alternative scenario: Alternatively, price may break through pivot structure and rise to the 1st resistance level at 1.2124 in line with the pullback resistance, 23.6% fibonacci retracement and 78.6% fibonacci projection . Fundamentals: In the central bank notes, a third of the six members who voted for a hike viewed that the latest increase marked the end of the current hiking cycle while peak inflation revised to more than 10%, adding to the stagflation fears; possible GDP contraction in 2023, giving us a mixed bias for British Pound Futures.
CME:6B1!Short
by Genesiv
BRITISH POUND FUTURES (ZR1!), H1 Potential for Bearish MomentumType : Bearish Momentum Resistance : 1.2563 Pivot: 1.2514 Support : 1.2432 Preferred Case: On the H1, price is moving within the descending channel and is below the ichimoku cloud which supports our bearish bias that price will drop from our pivot at 1.2514 in line with the overlap resistance to the 1st support at 1.2432 where the swing low support, 100% fibonnaci projection and 78.6% fibonacci projection . Alternative scenario: Alternatively, price may break through pivot structure and rise to the 1st resistance level at 1.2563 in line with the swing high resistance and 78.6% fibonacci projection Fundamentals: We have a mixed bias on the British pound futures since the focus on the pound remains on the political front, with Downing Street indicating no plans for a cabinet change and a resolution to the North Ireland issue likely to be disclosed next week.
CME:6B1!Short
by Genesiv
BRITISH POUND FUTURES (6B1!), H1 Potential for Bearish dropType : Bearish Continuation 1st Resistance : 1.2660 Pivot: 1.2622 1st Support: 1.2554 Preferred Case: With price reversing off the ichimoku cloud resistance, we have a bearish bias that price will drop to our support in line with the horizontal swing low support, 38.2% fibonacci retracement and 23.6% fibonacci retracement from our pivot in line with the horizontal swing high resistance and 50% Fibonacci retracement. Alternative scenario: Alternatively, price may break pivot structure and head for 1st resistance in line with the overlap resistance and 61.8% Fibonacci retracement. Take note of intermediary support at 3860. Fundamentals: Stocks have been under pressure since the start of the year as investors have dumped stocks amid worries over whether the Federal Reserve will be able to tame inflation without triggering a recession, with spillover effects from the war in Ukraine and the possibility of a slowdown in China from a rise in COVID-19 cases adding to the angst. Due to this, we currently have a bearish bias on the index.
CME:6B1!Short
by Genesiv
British Pound Futures (6B1!), H1 Potential for Bullish MomentumType : Bullish Rise 1st Resistance : 1.2631 Pivot: 1.2553 Support : 1.2485 Preferred Case: With price moving within the ascending trend channel and above the ichimoku cloud, it supports our bullish bias that price will bounce off the pivot at 1.2553 in line with the confluence area with 50% Fibonacci retracement to the 1st resistance at 1.2631 in line with the 61.8% Fibonacci retracement and 127.2% Fibonacci extension. Alternative scenario: Price may break the pivot level and drop to the 1st support at 1.2485 in line with horizontal swing low support. Fundamentals: Dovish doses were injected by the BoE Chief Economist Pill and member Tenreyro. The former warned of recession risks from too much tightening, while the latter sought a more gradual approach to tame inflation. We currently have a mixed-to-weak bearish.
CME:6B1!Long
by Genesiv
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CME_MINI:M6B1!Short
by Altcoin144
1
New trading strategy upgrade - I am still expecting the price will drop sharply in the near further towarding a new lower low. Hi traders, this is my personal trading idea only. Please give an AGREE/ LIKE if you agree with my TRADING PLAN. My chaos drawing is not to predict and guess the further, it is my plan where we are on the chart and how we shall trade on what we see. My trading strategy is Price Auction - PA using Price movement only, your comments are highly welcome. Trade well & Good luck guys.
CME:6BH2022Short
by QQGuo-Shane
6B Short Idea at 1.3510I have an alert set for when 6B comes into that 4 Hr Supply. A few more basing candles than I would like before the drop but it was a strong enough move to add to the watchlist. It also comes into a weekly LVN right above that Supply Level. One thing I will say is because that high was so weak, almost 7, 4 hour candles with almost the same high, I believe there is a chance we punch through and repair that weak high before we get the rotation, therefore my stop will be a little wider than usual, and I'll be trading less contract. Im gonna be front running the weekly LVN by a tick, cause I also think there is a chance we reject strongly off of the LVN and often times it will start rejecting a tick early. My stop is going above the anchored VWAP (off the recent High on the 13th) which also is where the 100 EMA on the Daily falls as well. As always this is not Financial Advice, I am just sharing the trades I plan on taking for a few reasons, one to log my trades, 2) some accountability and documentation, and hopefully these Ideas help somebody to find some trades of their own. I would Love to see anybody elses Idea links in the comments. Happy Trading Everybody. Good Luck this week
CME:6B1!Short
by Trend_Chasin
6B Waiting for long potision.- Context: DX Us index show weakness.......GBP in strong trend. - GBPUSD:( 25.5% Long and 74.5% Short) Retail trader data shows 25.5% of traders are net-long with the ratio of traders short to long at 3. We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests GBP/USD prices may continue to rise. - We have weak high 1.3745 and the other one 1.2833 which we had in Oct last year. - Basicly we have price at LVN and VAH in VP week now, so maybe price will bounce off VAH. And we have Low Volume Nodes from yesterday (zone 1.367) and VPOC, we should waiting price reach zones and looking for confirmation.
CME:6B1!Long
by Christopher0909
2
GBP Expecting Lower PricesThis is the Daily Timeframe. KEEP IN MIND: This analysis is solely based upon Institutional Structure, nothing else. When an impulse takes out a previous low, it creates a Break of Market Structure (BMS), showing signs of weakness. When a previous low has been violated, the swing high that was formed prior to the violation of the low turns into a Protected High (PH). This means that we expect the market to sustain bearishly and stay BELOW the Protected High. GBP has kept breaking lows and creating new PH's whom none of them have yet been violated to the upside. I expect GBP to keep moving lower. I am only bearish until we break a newly created PH to the UPSIDE , as this means that we might move higher. But as long as GBP keeps doing these moves we can expect GBP to weaken in the long run. The Weekly timeframe is doing the exact same thing, and I expect GBP's price to go lower for the next months UNTIL we break a PH to the upside, showing signs of strength.
CME:6B1!Short
by Bastianelton
GBP/USD with incoming Demand from VSABriefly and to the point - VSA Scanner shows the incoming demand on the H1 chart on the Cable (GBP/USD) in the form of the protected zone and the occurrence of two Shakeout signals. The zone was broken on top where Effort to Rise was visible. Additionally, the broken zone from above was tested by the appearance of No Supply. We are in the volume zone on the D1 chart. A proposal with a target around 1.3445, where we have another not yet tested volume zone on H1. Ratio Risk / Reward 3.5
CME_MINI:M6B1!Long
by skyline-trader