Those who have been following the latest Pound trades will know we are already on the sell-side here.
Here is the latest wave count on the weekly chart, we are playing the range set between 50.0% - 76.4% of the retracement leg since the January 2016.
Dollar strength is coming via yields so we have large money on the move here, the leg will be fast and...
GBPUSD Buy Set Up
Prince has Broken the Down Trend Line
and now it is retesting
0.618 level is support now and it is good to
Buy GBPUSD if price can't make a lower low
Expecting this pair to continue decline after correction. Price completed 3rd wave (green) and seem to be retracing from 1.618 fibo level because a 3rd wave is always equal to 1.619 fibo level of a 1st wave. Therefore, I will short this pair after correction in 4th wave (green).
By the time you are done with this tutorial, You will understand Structure, Trends, Reversals & much more! This tutorial will teach you how to dig deep into the charts & analyze where price is likely to go next!
Reading Structure can be difficult when you first start trading, however most professional traders (if not all) understand structure very well and it is...
Reasons for open position:
- Sell zone
- Mirror level
- Wait a pullback and sell
- S/L above 1.2682
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Attending the theory of trend lines, and using fibonacci tool and my theory of key levels Monthly, we find a possible purchase to capture a few pips, after that enter a sale that takes the price to the line of accelerated trend, the lines Orange are resistances or supports in Teporalidad Daily, the yellow lines are fibos in temparalidad of 1 hour, the white lines...
As of May 22 6:00AM Sterling/Greenback formed reverse head and shoulders pattern on the daily chart. If it holds the support (1.266xx) area it may signal the bear market reversal.
*IG client sentiment is 81% bull with 4.357 long/short ratio, investors are still very bullish on the pair. Market makers may plummet the pair as the price usually goes against...
Hi FX traders,
May resigned from U.K prime minister today. I was bullish on GBP as U.K presented strong economic data this morning.
GBP/USD went up to 1.27148 and retraced back to support (1.266xx) area after May's resignation news. GBP pair is currently testing multi-day support area (1.266xx) but I am expecting it would go lower as U.K. just faced with new...
15 min chart.
Head & Shoulders pattern seen.
Short term short opp. Could not penetrate 23% fib level.
Investor sentiment is still very bullish (83% long, 4.9 L/S ratio)
It will most likely reach 1.2668 support.
> Three white soldiers candlestick pattern(Bullish indicator) is discovered in the hourly chart. Same candlestick pattern is forming in 4-hour chart as well. (@ 05/23 13:00 EST)
> U.S. economic datas have missed expectations. (PMI, Home sales) (Bullish)
> 1.266XX area is almost confirmed bottom of the bear trend. (Bullish)
> 1.26XXX area is the right shoulder...
GBP/USD sentiment is very bullish. 4.92 bull to bear ratio (83% long / 17% bear).
It will trend downward as more traders are bullish on pair. It will probably reach support @1.26XXX level and bounce back from there.
Inspired by an indicator I found on stevehopwoodforex.com and the endless possibilities of tradingview.com I came up with this currency strength visualisation concept.
*Please hit the zoom-out button once*
(or more if you're feeling wild)
This may look like a mess, but the last few "bars" on the chart are holding some useful information!
I'm sure I'm not the...