Beebags

Beebags

After the first weekly loss last week on GBPAUD we are seeing some consolidation. This is a valid 2618 trade, even though the first bottom is just a spike. Great risk reward and in the direction of the longer term trend.

Beebags

We have a bear Gartley with a D completion at 136.830. Stop above the X leg at 137.45. Target is the 38.2% retracement of the AD leg at 136.130.

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Cable has been going sideways for the last 3 weeks, the 1.56750 level held well over a series of tests. A range play here with stop loss below the NFP spike low will give traders a really good risk/reward of close to 3:1. Something of interest to range traders. Not interested in trading this early in the week, if we are still lingering here on London open it will...

Beebags

Trend continuation play. Price action showing sellers defending this area with three upside rejections. Decent R:R of at least 1:1, even with a conservative target at week lows around 1.08500.

Beebags

There is a valid 2618 setup on this pair formed late on Friday. The volatility in the New York session last Friday caused this to setup without me entering the trade. I am very hesitant to be short GBPAUD as we are in a strong uptrend, closing higher over the last 12 weeks straight. However there are always potential opportunities for countertrend moves.

Beebags

Bat pattern completed at 1.09480. Conservative target at the 38.2% retracement of the AD leg More aggressive target at the 61.8% of the AD

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Plain and simple 2618 setup. Stops below 123. Target 1 at 123.750, take half off and lock in Breakeven. Target 2 at 123.970.

Beebags

This pair has put in a valid double bottom at the D completion of a bull bat pattern. I am trading it as a 2618, buy limit at the 61.8% retracement of the move from second bottom to the highest high above the neckline. If we keep pressing higher I will adjust the position up with it accordingly. Stop at 122.910, TP#1 at 100%, TP#2 at 127.2%.

Beebags

The break and close below 1.30260 brings a potential bearish rotation down to 1.29470.