Published an idea earlier to buy GBPUSD after forming the tip of a possible inverse head and shoulders pattern. As mentioned, we now plan to long GBPUSD. After taking profit of 100 pips from the last short call, we will now take a long position.
Here is another that explains my bullish bias: price has a short-term bearish channel and we have hit the lower...
GBPUSD has fallen 100 pips from our last call and has now gotten to our buy level after completing the right shoulder of the inverse head and shoulder pattern.
Close shorts now from previous GU idea and we now look to buy as it is approaching our buy level.
Entry will be updated later.
DXY might reverse soon. This analysis is in line with our GBPUSD and EURUSD inverted head and shoulders pattern. EURUSD and GBPUSD both have gotten to their buy levels.
We now close our GBPUSD and EURUSD shorts in very good profits and prepare to...
GBPUSD structure almost the same as EURUSD. Chart pattern looks identical to my EURUSD chart which is forming inverse head and shoulder. Bearish is still bias until 1.2950-60 where the right shoulder can potentially form.
We can still short GBPUSD after its pullback and target 1.2950, where we will observe and look for a buy!
Entry levels will be updated as the...
Last week, I called an idea to short EURUSD upon seeing a potential inverse head and shoulder pattern completing at 1.1510. EURUSD has since tanked +150 pips in our favor.
The inverse head and shoulder is still valid and hasn't yet broken the structure. I am still expecting more downside on the pair after a pullback at around 1.1650-70 were we can open fresh...
This is my updated view on EURUSD in 4-HOUR CHART. Price seems to be forming an inverted head and shoulders pattern, with the right shoulder completing at around 1.1500.
On 1-hour chart, it also broke a short term bullish channel. Waiting for a corrective price action before entering a sell.
Entry, SL and TP will be in the update section, for now it is best to...
EUR pairs rallied after Draghi's speech on inflation but EURJPY failed to make higher high. The pair reached an intraday high of 133.07, failing to break the previous high of 133.13.
The pair formed a double top pattern in 1 hour chart. We can sell this pair around 132.60-70, SL at 133.10 and take profit as shown in the chart.
Conservative traders can sell at the...
In my last GBPJPY idea, we bought the pair from 147.20 and closed at 148.00 for 80 pips profit. The reason we close our long trade is because JPY might be strong soon and Pound tends to be volatile and weak due to Brexit developments. We are now changing our bias from long to short.
In 1 hour chart, price has made a 50% pull back from its last swing high and...
EURAUD almost has same structure with GBPAUD.
Both pairs broke and retested a daily resistance. Candlestick also formed a tweezer pattern on the broken structure. And like GBPAUD, price is in an overall bullish channel. We can look to buy this pair at its current level.
Stop loss at 1.6050.
Take profit: 1.6200, 1.6330.
You can view my GBPAUD idea in the links...
CHFJPY has formed a triple top pattern on daily timeframe and ended the last previous trading session with a daily pinbar, indicating a reversal.
This is a swing sell with great Risk:Reward ratio.
SL (red line) and TP levels (black lines) as indicated in the chart. Entry will be posted in a lower timeframe in the comments section.
Feel free to comment and give a like!
XAUUSD after a massive sell-off, gold has fallen to a range bound market in the beginning of September.
This provides us with a great scalp opportunity while waiting for the market to breakout to the upside, or continue its descend.
For those looking to buy gold, you can buy it now for 30-50 pips profit and stop loss of 20 pips.
CADJPY, along with most other JPY pairs are calling for pullback after rallying last week.
After reaching an intraday high of 87.45, the pair retreated near its opening level at 87.15 forming a gravestone doji at a daily resistance area.
We now look to short the pair at around 87.15-25, with SL at 87.45-87.55
Lower timeframe chart will be posted in the update...
EURJPY after rallying has formed a pinbar on the daily chart at a strong resistance.
We can now look to short the pair and put stop loss at the previous high for a minimum take profit of about 150-200 pips.
First take profit as indicated in the chart, entry will be given in a smaller timeframe. Check the update section for the 4-hour chart where the entry will...
Weakness of greenback across all major pairs fueled Aussie to fly. After rising for about 200 pips, its further advance is stopped by the upper line of the channel.
The pair is showing a classic falling wedge pattern indicating that a breakout might be imminent. CAUTION IS ADVISED THOUGH! Notice how the last four bullish candles are getting smaller as it...
All GBP pairs tumbled as PM May announced that a no deal in Brexit negotiations is better than a bad deal.
GBPJPY broke a downtrend line but also met some resistance at 149.70 and reversed from there. It is now trading at 147 area. Let us see if we will get a retest of broken structure. If price doesn't break through the lower red box, look to buy.
GBPUSD had a massive sell-off after PM Theresa May's speech. Pound fell for 200 pips and reached 38.2% retracement which coincides as a broken resistance, now acting as support.
Also, a arising wedge is also broken.
My view on GBPUSD at the moment is neutral although slightly bullish. We need to see if price will break through the resistance turned support at...
Neutral bias on EURUSD. Although a bullish PA is more likely.
This week, price broke resistance at 1.1740-50 area and moved up to 1.18 handle. However, it lacked the momentum to keep its bullish run and it made a retest.
Now, EURUSD retested the broken structure and bounced off a strong resistance, but it also has a uptrend line that hasn't been retested yet at...
GBPAUD broke the horizontal resistance and retested in the daily chart, further advance is expected. Price is also in an uptrend channel, Look to buy. Great RR if price goes as predicted!
Feel free to share charts in the comments!