BOS
GBP/AUD: Long Reversal runningGBP/AUD: Long Reversal running
> Higher High and higher low printed
> Break out of the triangle formation
> POC below current price
> Last weekly high far away
Structurally, this is a long based on the rules of our Wall Street H/L System. It is, however, a little risky ahead of the FED tonight. Why? Because the decision + press conferent COULD lead to direction-changing moves. If you do not mind economic data risk, you can enter.
Also check out my stream on the FED + Swingsetups:
www.tradingview.com
Meikel & Team WSI
GBP/CHF: Long Reversal running & FED commentGBP/CHF: Long Reversal running
> Higher high and higher low printes
> inner trendline break
> quadruple bottom
> POC below current price
We are seeing broad GBP-strength, also visible in GBP/CAD, GBP/AUD, GBP/JPY and GBP/NZD. GBP/CHF checks all the criteria for a long entry according to our H/L Wall Street System.
Post Fed Meeting
The dust has settled since the FEDs epxted 75bps interest rate hike. During the press conference Powell communicated what we call a "dovish hike". The FED did hike interest rates, but the forward guidance is not as strongly hawkish as in the past anymore.
Now, the FED ist data-dpendent, which is a softer stance on rate hikes. The consequence is a risk-on reaction in the markets: Stocks are rising, USD and JPY is weakening and Crypto is rallying.
Please always remember:
Trading is a game of probabilities. This means that a single trade is not important. A system plays out over a large number of trades (i.e. 100-200 trades). Every trade should be taken with a risk as a % of your capital. Risk management is absolut key. A win rate of 70% means: Out of 100 trades, you will have 70 wins and 30 SLs. Do not risk your account on the 30 SLs.
Best
Meikel & Team WSI
EUR/GBP H4: Short pressure risingEUR/GBP H4: Short pressure rising
> Bullish trend broken
> Re-Test successfull
> break of structure, change in sequence
> Need a break of the current inner upward trendchannel
Even after the interest rate increase by the ECB, the EUR seems vulnarable, especially because of the ongoing Russia/Ukraine conflict.
A break of the last higher low would increase the probability of a downside movement.
Meikel & your Team WSI
CHF/JPY: Shortsetup in the makingCHF/JPY: Shortsetup in the making
> Doubletop formation with falling high in D1
> Lower low and lower high in H4
> Inner trendline broken
> Top range of bearish trendchannel
> POC above current levels
This is a watchlist trade. We would like to see another lower high + outer trendline break to enter short.
Check out our bio!
Meikel & Team WSI
Possible sales positionsWe see a divergent pattern in terms of price in the main trend according to the higher time frames that after the last major bearish wave, we are retracing to the 0.78 Fibonacci level , which can give its last warnings to the buyers, before falling towards the main support areas, and in this case, we can only consider selling transactions when we see (BOS) in the areas mentioned in the chart.