Dear Traders,
Just an idea on GBP-USD 1H Time-Frame - Markets are ranging at the time of this post. Possible pullback to 1.36027 - if this level is failed, prices could pull back to 1.3580. If 1.3580 is not being respected and broken towards the downside with at least 2 bearish candles as confirmation - a possible price correction at the 1.3540 level could...
Currently the market is reversing back up. 1st Level of resistance expected at 1.3598. Should the price break through resistance at 1.36044 and proceed upwards, I am of opinion that TP1 could be 1.36200 and TP 2 at 1.3640
Possible movement towards the upside. Should price break at 1914.50, it could possibly reverse back to 1908.16 and move up again to retest the previous levels of 1914.52 - It the impulse move continues, a Fibbonaci Retracement can be drawn on top of the 1914.50 level. I would consider a BUY position with TP1 at the 0.786 level and Possibly the 0.618 level as well.
Prices are currently in the middle of a back-to-back impulse wave. The long red arrow represents a "Brick wall" which has not been broken as yet. Once the " Brick wall has been breached with at least 2 bearish candles to the down side, this would indicate that the market is ready to move back to the down side. For confluence, I suggest using the Stochastic...
Nasdaq100 ( US-TECH100) seems to be approaching the final move of an impulse towards the down side. The target for this trade was the price on 03 June 2021 when the candles found support and pushed back up. Seem like History is repeating itself. Good luck.
According to the price-action based movement , it seem that the British Pound will run out of steam soon. Should the price-level of 156.452 not be broken, a sell position could be considered. Prices are anticipated to push down towards 155.790 and reverse back as demonstrated. The Stop-Loss for this trade could be considered at the price-level of 156.765 - this...
At the time of this writing, this is what I have noticed - At the the current price levels, if the level is rejected, a corrective pull-back should be done to the previous level of support, correcting price, and moving back up to the next level of support. See the red arrows as an expectation of what price would do. With the Aussie-dollar pushing upwards, it is...
As global markets are gradually opening up again and price wars going on with promising figures from the Crude Oil Inventories by the US, there should be a promising show of a steady climb again in oil for the long term. Oil should be back at the 41$ mark within the middle of next week. Prices dropped due to price correction and with the competitive trading of...
