GBP-PiP-Chaser

GBP-PiP-Chaser Updated 

4HR timeframe shows head and shoulders forming. My opinion is that price will retract to 1.20206 before any further structure forming.

GBP-PiP-Chaser Updated 

Pound plummets - scalpers dream of 122 pips. My thinking - 50 EMA has not crossed 150 EMA - engulfing bearish candle due to no positive news from the UK. I have a long position in to pick up the retracement to the previous support to the now resistance zone @ 1.21878. Personally I can see price bouncing from support to resistance before making the next big...

GBP-PiP-Chaser Updated 

Again looking at successful channel trading. Single trade of the day for another 200 pips. Area of concern: test of resistance zone (which is dynamic - support turns to resistance and then vice versa) at 1.21878 ... Yesterday price performance at this zone was slow and am expecting the same today so will hold this until the asia session. SL set at 150 EMA as...

GBP-PiP-Chaser Updated 

Respecting the channel trades ... Did not get to take my preferred entry into the short trade from the resistance trendline @ 1.22919 However entered 2 scalps - Tp1 hit at 39 pips and now awaiting for 4 hr support to be tested and then if my analysis is correct collect a 90 pip win

GBP-PiP-Chaser

Trading between my channel zones ... Confidence in the 150 EMA becoming a support zone which allows 50 EMA to range above 150 EMA. Looking at trade patterns on this bull run - we can see respect of the channels acting as support and resistance zones.

GBP-PiP-Chaser

Here is my thought process for the bull run of GU. 4 HR respects 50 ad 150 EMA trading above but need some price consolidation for 150 EMA to begin to act as support zone. I am in long positions currently and will continue to hold until price dictates otherwise. As always will be scalping re tracements throughout the day.

GBP-PiP-Chaser Updated 

Quick scalp to the up side of trendline. Once target hit on the upside my long term buy position will be closed and will scalp the retest of support zones

GBP-PiP-Chaser Updated 

Scalp the retrace to 1.2 then wait for confirmation and back to long positions,

GBP-PiP-Chaser Updated 

Looking on 4 hour chart We can see 50 EMA acts as support but the test of the 150 EMA is causing resistance - this being the case there is not much range between the two EMAs. Looking at the 1 hr chart a head and shoulders formation was respected and price broke the trendline resistance. A small pull back was noted but price closed above the trendline. Price...

GBP-PiP-Chaser Updated 

1 hr support zone rejected ... 1 hr Ema's both acting as resistance ... Trendline respected as resistance. Bull run is over back to the bears. Please note - previously when price rejected 1.19277 price dropped to high 1.17 level, I personally think the same will happen again. Also; there is no support below the 1.19277 zone = price can free fall ... Only worry...

GBP-PiP-Chaser Updated 

Double top has formed thus justifying the major short trade. Looking to pull back and test the 1.17900 area ... waiting for confirmation for key points noted on chart and will be increasing TP accordingly. Entered into trade this morning - did not pick up the right area for the following reasons: 1) Previously had a very busy chart not allowing me to pick up key...

GBP-PiP-Chaser Updated 

Looking over this pair - had many great wins via thorough analysis and now looking to further grow in knowledge and spotting patterns. My thinking: Based off weekly and monthly chart - Personally as mentioned before I do not see price dipping to the sub 1.7 area; price has rejected the dip over the duration of time (bar once with an almost immediate...

GBP-PiP-Chaser

Quick scalp!!!! This has has brought me up to 600 pip winning month! Trying to keep the emotion out of it but very f**king happy!!! With UK fuel prices pulling our pants down, it is nice to be able to use this scalp for a tank of fuel :)

GBP-PiP-Chaser Updated 

I am liking the structure of this pair recently, also having changed my trading strategy to reflect proper chart analysis. When focused on the bear trend we saw price respecting the support and resistance trend lines. Now drawing support and resistance on what I envisage to be a bull run we can see structure respecting this also. Therefore a quick sell trade on...

GBP-PiP-Chaser Updated 

Great movement from this pair - got caught out trying to short the pair for a pull back to a bearish bias (60 pip loss today) but overall a profitable day. Just closed a buy trade as am looking at the 1.2 zone. Previously this was a support zone but am conscious support zones flip into resistance zone ... therefore awaiting 1 hour confirmation and then if it is...

GBP-PiP-Chaser Updated 

Personally had a good few wins this past 2 weeks with GBPUSD (almost 255 pips in 2 weeks), however whilst volitile markets allow for sure wins - it is the analysis of this pair that makes me consider the wider picture. Key area for review for me is the 1.18850 ... price seems to be hovering in a indecisive manner: 4 hour chart shows price ready to break the...

GBP-PiP-Chaser

Quick Sale to capitalise on the bear market. Next trade is pending - awaiting hourly confirmation of pullback to 50EMA which is acting as a dynamic resistance and also to the trend line at 1.194 - 1.195 ... Bias is a sell position towards 1.165 but again awaiting candle and market confirmation.

GBP-PiP-Chaser Updated 

Watching the zonal trading patterns in the market - 4 hour chart: 1.2 zone tested and then rejected by market. Clear pattern of trading dominated by the bears. PM resigns and UK in chaos financially - sell sell sell. Dominant trade below 50 and 150 EMA stoch supports sell Game plan is to hold till 1.9 and then review; due to some losses this week financial...