GBP-PiP-Chaser

GBP-PiP-Chaser

Looking over the chart after exiting my short position in profit. 1.26000 - 1.26500 acting as a strong support at the moment and can see this area was previously a strong resistance zone. I am looking for the short from this zone. There is some danger that 1.26 will act as a support (basic lesson: Resistance turns to support). What are your thoughts?

GBP-PiP-Chaser

Prepping the GU chart for the coming week. Previous plan of using 1.26 as a key area of support was correct, 1.271 forms new resistance zone. Therefore forming a dynamic resistance trend line if price respects this area. Thus giving GU a few options: Use previous previous 4hr support (during sideways movement) as support for an immediate bull run, which uses...

GBP-PiP-Chaser

Bias - short; news events today and overall formation showing a short position is best. News tomorrow anticipated to be in favour of US. Break current zone confirmation required for risk adverse traders before TP being hit at next support zone ... Let us see ...

GBP-PiP-Chaser Updated 

See chart for trade analysis ... What do you guys think?

GBP-PiP-Chaser

First time trading this pair so kept a very basic outlook on this. 4 Hr time frame - dynamic tend line support formed. 4 Hr Stoch supports buy position News incoming from US deemed to push USD into a bearish momentum

GBP-PiP-Chaser

Enjoying this trade - previous supports acting strong, retracement may see support turn into resistance but for the mean time enjoying the profits.

GBP-PiP-Chaser Updated 

Shorted this pair on Friday and saw TP hit this morning Not sure about set up today - waiting to see confirmation

GBP-PiP-Chaser Updated 

Bought the uplift and then sold on the return of the downtrend. My strategy follows the stoch indicator and the EMAs - nice and simple.

GBP-PiP-Chaser Updated 

Trading the test of resistance, overall bias for long term trades is to short but for todays day trade going long to catch a few pips and then return to the downside trading. Trade open for 45 mins currently and already in profit.

GBP-PiP-Chaser Updated 

Nice simple set up - channel support hit now to test the resistance.

GBP-PiP-Chaser Updated 

Keeping it simple as always - clear downtrend channel trade.

GBP-PiP-Chaser Updated 

Breakout buy - risky trade and will be closing as soon as price consolidates

GBP-PiP-Chaser Updated 

A quick scalp this morning - planning to hold whilst the stoch supports the trade. Trade most likely will be closed just before BoE news. Weekly Pip gain: +40 pips +56 pips +80 pips +66 pips +50 pips +50 pips Total: 342 PIPS

GBP-PiP-Chaser Updated 

Simple channel trading for the day trade today - price has respected the channel support and resistance, stoch confirms position as well as EMA acting a dynamic resistance.

GBP-PiP-Chaser Updated 

Quick scalp to test the EMA as a dynamic resistance zone ... Trade in profit

GBP-PiP-Chaser

Scalp trade to the downside - looking on daily chart for possible upside movement

GBP-PiP-Chaser Updated 

Working off simple chart dynamics - Resistance forms support and stoch justifies buy trade. A little early off the EMAs but a risk managed is a risk worth taking

GBP-PiP-Chaser

Looking at the channel trade - bullish trend pulled out the dynamic resistance and now price is retracing ... 50 EMA looks to confirm pull down from 150 EMA after 4 hour candle close (got to wait this one out ...) Major rejection seen at 1.21249; looking to build gravity from this