BXY Little long for 2 or 3 days and short ideauptrend trendline has been violated. pullback is coming, then big shortLongby Parmenas4
BRITISH POUND INDEX.Wait for the breakout or breakdown from the pennant for an indication as to whether or not we are going to test the top or bottom of the channel. by BitterSweetMarkets1
BXY- GBP INDEX- up in 15 min I have made analysis on GBPUSD before... and DXY analysis too...and it looks like BXY is going up DXY going down , so GBPUSD going up. Please refer to below link i have provided for more information...Longby NavaneetKrUpdated 0
BXY - GBP extremely Bullish - High risk reward tradeBXY - GBP extremely Bullish - High risk reward tradeLongby SIUSHINGTO0
index gbp shortthis is why i sell gbpusd and gbpjpy gbp will go down for next 24hoursShortby JimmyFleury2
If the Bank of England rise interes rates we will see a nice BatThis trading idea is only valid if Bank of England rise interest rates. In the mean time will be moving inside that yellow channel. Be patient and wait for thursday.Longby X873
BXY Weekly updateConfirmation of a completed wave 4 has yet to be confirmed. AO cross below 0 confirms the completion of the 4 wave weekly. Channel traders can use a channel brake for confirmation. Wave 1 equality and fib 1.618 extension gives us a projected price of the 114-113.6 area. Our trade zone will be the blue box to protect us from a truncated fifth wave. At that point protect your short positions with good trade management that will also allow you to exploit the maximum of the fifth wave projection. I will be looking for short opportunities in GU to trade pound weakness. Combined with projected dollar strength GU can be giving us some high probability opportunities.Shortby RalphStPierre4
BXY WeeklyChannel break could be the start of wave 5. This is the mirror image of GBPUSD weeklyShortby RalphStPierre7
CXY and BXYCXY high probability on its way to fill the gap BXY No trade set-up yet...but its trying. and has a gap fill alsoby RalphStPierre5
I think the picture is more clear here:still a Butterfly patternI already made a bearish forecast for the GBPUSD but maybe with the BXY can explain my point clearer. In march 27 I made a forecast of a Cypher pattern, but it really was a Butterfly, anyway it was a great trade. For now, in the chart you can see the rising wedge we had been trading in between those gross pink lines since early 2017. The most important thing, is that after thursday election + DXY bullish correction, we can expect the BXY to feel some weakenes in next weeks due political uncertainties about Brexit results and negotiations. Just a guess.... For this trade our EP will be 127.000 SL 127.800, TP1 will be 0.618 fibo retracement for 125.000 and TP2 or 123.200. dont be greedy and take your profits 1 by 1.Shortby X873
GBP Sterling Index: Either way the next break is worth followingGBP: Sterling Index BXY: GBP is caught in a near term tight decision range: when it breaks, probably as early as tomorrow but doesn't have to be, it will be worth following via USDGBPby sumastardon6
$GBP Bearish Bias in the Pound this weekCan we keep the pound contained within its bearish channel? If so, expect some powerful bearishness. Only bullish above recent highs.Shortby glennmercer117
Pound Downside Ahead: Look for GBP ShortsHey traders, here's an opportunity I've been scouting for a few weeks. It seems as though we are about to see some bearishness in the pound next week. I will be looking for short opportunities as we may confirm a triangle breakout and potentially fall further down the bearish channel.Shortby glennmercer21
Dont trade BXYpairs right now ...wait for the triang be brokenFor me, this should be one of the best trades for next week. I see a falling wedge in the 1D frame, and right now we´re touching his top. Since beginning jan 2017 we had been trading the thin pink channel, and right now we see a trangle ready for us in between those gross red lines. Also remember that dobule bottom we´re in since october last year showing us how unsecure is the currency about wich direction is heading. In the macro analysis, I understand it becuase of the uncertainties of Brexit over British economy. Plan a Bullish EP 125.6 SL 124.2 TP1 125.6 TP2 130.9 with a great risk/profit ratio of 3.79 Plan B Bear EP 123.4 SL 125.1 TP1120.9 TP2 118.5 and TP 3 116.5 for a risk/reward ratio of 4.06by X87Updated 12
back to black: Pound pairs confirmed for buysive decided to start using my black charts again, the break from them was nice, but here we got a nice cypher pattern coming up for the pound index! meaning pound pairs must be setting up to buy. i trade structure before anything else and structure indicates we may see some bulls coming into play! look at some british pairs and pick your setup! thumbs up for more updates and posts! Longby DAVID_GIRALDOUpdated 3