guttsman007

guttsman007

GBP/USD is currently on a pivot point established January 20th. Be well aware that the UK has just left Brexit as well as Trump's possible impeachment. Let's also not forget news of the coronavirus that has now caused the Dow Jones and S&P 500 to take a major hit. Be very careful when trading this, trade small, extend stop loss and manage your trades wisely....

guttsman007

This will be my last post for the month since making calls is a bit distracting at times. Look for a short position using MTF analysis on a lower timeframe. This is a 4-hr chart. Price has touched this level back in December 16-17 of 2019 and is already showing signs of exhaustion. With no major news as a catalyst to propel this pair further north, my bias stays...

guttsman007 Updated 

As you see on the pic provided, price is caught in the crosshairs between two important pivot points. The first pivot point is from Dec. 13, 2019 what "retailers" would call resistance. As you can observe, price reacted in that level. The other is from Nov. 8, 2019. Price has yet to retrace to that point. But based on the fact that there wasn't a massive sell-off...

guttsman007

Price has been in this area of resistance at least five times now. If you check in your daily chart using simple candlestick formations, you'll see that EUR/GBP is poised to break this level. if you like the content, hit me up via private message and opt in for my accurate signal service.

guttsman007

Following NFP I've been viewing something very closely. Taking into account the millions of times I've traded a setup like this going short and lost, it is to my understanding that this is an impulsive move, meaning retracements are rare but the moves are big and the trends are very long. There has been no real retracements recorded as of January 8. We might get...

guttsman007

USD is showing signs of weakness around many currencies. Using my style of trading, the DXY is likely to fall by the coming week as it's already overbought on higher tfs. Long-term wise, this is the monthly projection for the EU as I've linked a much earlier post weeks ago to this idea suggesting EU to bounce off of 1.15-ish as it has. Up to this point, given...

guttsman007

EU has been in an uptrend since last week. It seems to have hit a strong area of resistance around 1.17-1.172. As you can see on the 2hr tf, it makes what we'd all call a double top, a signal for bearishness. However currently EU falls back on the trendline as I've shown. A break above the resistance area as highlighted would prove that the uptrend would be...

guttsman007

s3.amazonaws.com Once again EU has met resistance at 1.164. After NFP release, EU dropped 100+ pips south before rallying again only to be met with the same level of support at an overbought condition. It is also overbought on all timeframes excluding the 4hr chart on stoch rsi. Will EU go down from here? My likely guess is that it does.

guttsman007 Updated 

s3.amazonaws.com Following the 80 pip drop after NFP release Friday, EU's expected to keep dropping. According to support/resistance levels and where EU is at currently on Stoch RSI on the daily chart, we should get a decent bounce up from 1.15. Currently EU is oversold on all four hourly charts(1hr,2hr,3hr&4hr) so we're likely to see a small retracement before...

guttsman007

s3.amazonaws.com My chart describes the scenario. If price dips at this point the next support level will be at 1.16-ish.

guttsman007

s3.amazonaws.com Based on the 4 hour chart, you can clearly see a bearish divergence for the downtrend continuation as well as EU being well in the overbought area on Stoch RSI. Looking for short entries using lower timeframes are your best hopes in coming out of this profitable. Good luck to all traders.

guttsman007

s3.amazonaws.com Given that this area has been held as support and resistance before, it is very likely EU will drop from here and fall down to the next likely support which is around 1.1628-ish though some say it's likely to continue going much lower. Only time will tell.....

guttsman007

s3.amazonaws.com So far price has stalled from advancing beyond 1.162. EU has held this area as former support as you can see in my screenshot as well as resistance. It's hard to determine as this is on the 4hr chart and both this chart as well as the 1hr chart are not in "overbought" condition Stoch RSI-wise. Price is considered overbought if it's above 80 on...

guttsman007

s3.amazonaws.com Following the correction, EU couldn't push past 1.1599. This level is interesting as you can see in the screenshot, the level was respected before as support under oversold conditions before a huge rally. Now, it's overbought and price is beginning to move down. Will this be a minor correction down to continue an uptrend or will it move even...

guttsman007

s3.amazonaws.com EU is ready to for a correction move. Given that EU is just coming out of oversold conditions from 4hr Stoch RSI with a bullish trend continuation on regular RSI, we're very likely to go between 1.162-1.165 range

guttsman007

s3.amazonaws.com Price seems to be consolidating at the moment holding around the 1.16 area. 1.16 is psychological support; if price breaks above the RSI we could see a retracement for the EU. But if price continues to move down then we might see another bearish wave going down as low as 1.155.

guttsman007 Updated 

s3.amazonaws.com A lot of bears expected the big move down on the EU. On the daily chart prior using your Stochastic RSI you would see price had formed a bearish divergence along with price being overbought at 1.17. The weekly close offered a bit more insight as to where price is going as a rejection candle just above support has formed as well as price STILL...