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EUR:GBP SHORT. Multiple Time Frame show same setup. 3.67 R !!!Weekly Chart, Daily, 8 Hr, and even smaller time frames all show a SHORT here. When you take a step back and look at the WEEKLY time frame there is a very clear BEARISH Divergence and DOWNTREND on MACD as well as MACD curling lower and about to break below ZERO Line on Weekly Time Frame. Notice for those interested that Daily, and 8 hr show nearly the same exact setup. SHORT Entry = $0.89439, SL = $ 0.911 and TP = $ 0.83350. This is a 3.67 R trade .
Short
by eganon69
21
GBP/USD: Trading Brexit (FIST Analysis)Happy Friday traders! Time to make an update on GBP/USD. Here is a FIST (Fundamental, Intermarket, Sentiment, Technical) analysis of the pair ahead of the NFP and potential trade deal. FUNDAMENTALS Services and Manufacturing PMIs in the UK came in better than expected, but the main market theme is still whether the UK and the EU will reach a trade deal over the weekend. Some reports show a deal is "imminent", but France is still playing hard on the fisheries front, demanding access to UK fishery waters. Btw, fishery accounts for a fraction of a percent in UK's GDP. In the US, we are waiting for NFP numbers. ADP numbers came in weaker, while unemployment claims came in better. NB: Goldman Sachs expects a number around 450k (are they looking for selling pressure from dumb money to get into USD longs? We will see) CLUES FROM INTERMARKETS 2-year yield differentials point at a lower GBP/USD. Higher demand for UK bonds pushes UK interest rates lower, signaling flight to safety ahead of the trade deal deadline. WHAT DOES MARKET SENTIMENT SAY? Fast money (hedge funds) increased short positions in the GBP for the fourth week in a row. However, there is still room to the upside until we see a 52w extreme positioning. This means that there is still room to the downside for the GBP, but also to the upside (short squeeze). TECHNICALS As expected, the pair remains range-bound and trades around the point of control, signaling fair value at the moment. In case of a deal, I see 1.36 as the first profit target (bull flag target, 1.00 Fib extension), followed by the upper 1.36xx levels (1.272 Fib extension). A no deal scenario should at least see the lower 1.31xx levels, where we have a major liqudity zone and where large buyers could join the market again. == SUMMARY == I don't trade on Friday, and I don't trade if there are event risks. Trading a deal/no-deal scenario is gambling. Instead, wait for the outcome, let the market pick a direction, and look for pullbacks to get into the position. Please hit the "LIKE" button if you find this post useful. Also, don't forget to follow to get more trade ideas like this. Thanks!
by MujkanovicFX
2
GBPUSD Short MaybeLooking at the average Elliott wave cycle we are in a downward trend for GU overall. The pullback was a bit extreme but actually only to the 618. GBP strength in this situation makes almost no sense. Brexit & Covid 2.0 with Boris n friends running the show. All that's happening right now is the institutional investors are gathering liquidity. COT Data shows an 84% bias in trading the pound over USD and that is split with a 59% net short position. OVerall waiting for confirmation on smaller Time frames. Disclaimer This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s and Forex. Hence each trade setup might have different hold times, entry or exit conditions and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
Short
by Mayfair_Ventures
Special Analysis: The super strategy correlated!!!In this special analysis, I show two pars: 1. Euro/Sterling Pound 2. Sterling Pound/ U.S. Dollar So, in general, in both pars we see a good opportunity of both of 200 pips o earning. The difference is that one of the long position and the other hand is for short position. Euro/Sterling Pound: 1. In Daily or H4 timeframe we see that Euro is into the demand zone. 2. Sterling Pound has issue in the UK government and No-Deal Brexit 3. We see that Euro formed a bullish rising wedge, that show a good objective of the profit of 200 pips!!! Sterling Pound/ U.S. Dollar: 1. In Daily timeframe o H4 timeframe we see that Sterling Pound is into the supply zone. 2. Sterling Pound has issue in the UK government and No-Deal Brexit. that will resume that we could have a more issue in United Kingdom has we see the past fundamental key that I writing in my technical analysis as: a. Restrictions in the UK coronavirus in the UK system political, hospital, enterainment, universities, business and all UK market labour b. The UK goernment want to provide a negative interest rate in United Kingdom putting in warning the Brisish currency. 3. Investor's has in eyes a dangerous cautions as the British economy is set upon by months of uncertainy as we heard towars the winter months-and Brexit. 4. As the same time, we suppose that United States it's going into the post-recuperation about the U.S. stimulus package for american citizens, american business and more!!! That is my comparasion about what United Kingdom is enfocous in their plans. So, I believe that we see the Euro and U.S. Dollar agains the Sterling Pound is save the safe haven assets at the moment in cases that the British currency is goes to warn the thins in the No Deal brexit negotiations and more restricions seriously in United Kingdom. So, I see that Euro/Sterling Pound is bullish and Sterling Pound/U.S. Dollar is bearish and bouth in medium term!!! Guys, if you like this comparasion and correlation about the difference of Euro and Sterlign Pound, and U.S. Dollar, please give me a like and support this idea that other traders and people know this secret information that you will need to take in noticed it and to put this analysis in the top!!!
by harisonhbn9718
Fundamental and Analysis: Eurozone economy is stalling!!!In this analysis, we see that Euro is more weakness than Sterling Pound and investor are buy Sterling Pound in the cheapest level i you trade GBP/EUR to buoy, but we use EUR/GBP to short!!! ' We see in H4 timeframe a possible descendent triangle that mean a sell on Euro!!! Also, we expect that the next fundamentals will be posiive for Sterling Pound in what we respect to the go ahead on the Brexit deal!!! The trend in medium term is leading to bearish as we are into this bullish channel!!! At the moment, there's not a lot fundamental for these week, becuse this week we have fundamental for US Dollar, Canadian Dollar and Australian Dollar a lot by the president Trump HAS tested positive to hand covid-19. The Canadian Dollar has the fundamental keys for tomorrow about the negotiations of the Canadian Oil and Australian Dollar was meeting yesterday about their monetary policy lf the Reserve Bank of Australia. At the moment, fundamentally, we see that investor option to buy Sterling Pound more cheapest level because Euro is stallig and have issues on Germany from the past bad news about the unemployment and other factors that determined their inflation and Spain have the dissapoint on the country of the a lot cases of coronavirus in Spanish cities: Madrid and Navarra. And also, I have the Spanish news that present that Spain have the bad health system of the Eurozone.
Short
by harisonhbn9718
1
GBPUSD WEEKLY AND DAILY TIMEFRAMES!-Gbpusd the last few days was respecting technical analysis but the next days till 31/1 will not respect technical analysis at all it will only move fundamentally as we are speaking technical on weekly time frame gbpusd is in uptrend also on daily time frame -what we expect: we expect every down movement is a buy opportunity -fundamentally: Johnson getting brexit done with a deal gbpusd can reach 1.38 within a day brexit no deal gbp might crash to 1.19 long term most likely he will secure a deal!!
Long
by triunfofx
DARE TO CATCH THE FALLING KNIFE? GBPUSD Setup: Price is in very strong uptrend, but I can see a HNS forming maybe price is running out of steam and going to retrace to "refill" some gas. Haha. Overall trend is still strong bullish. This is a counter trend setup. Confluence: BRN Price Action Structure Supply zone Structure Breakout Entry Confirmation: Wait for CRS then sell Entry: Sell limit@ 1.2960, SL @ 1.3030 (70 pips), TP @ 1.2700 (260 pips) I use sell limit because I don't have entry confirmation yet, if strong bullish move triggers my entry, then I might cut loss. Let me know what you think.
Short
by BarryAllen_Thee
1
EURGBP bounce or break at 3 year range support?Depending on the outcome of Brexit within these two weeks, we could see a bounce or strong break of a 3 year range (since Oct '16). Either way, a deliberate move at range support is expected: If range is respected once more, TP: 0.9200 (+800 pips) If range is broken after 3 years, TP: 0.7400 (+1000 pips) Catalyst for a break of the range will be last minute Brexit deal by 31 October. One could place SELL-STOP orders below the range to catch the big break as a retest is unlikely for such an event. If expecting an extension, or no deal, then BUY-LIMIT order at range support.
by simplejack
GBPNZD LongGBPNZD, -has just broken Daily EMA200 & retrace to reject EMA200 to act as a dynamic support. -broken 0.5% Fibo and retraced back to 0.5 level so there's a high chance of it bouncing right off to head towards the next level of resistance. A buy stop is placed 10 pips above current resistance level on H4 , waiting the breakout to capture 50-100 pips in 2 days time, that being said if you were to zoom out to look at a bigger picture, you'll be looking at a triangle pattern which I'm optimistic that it'll be pending to hit the trendily above. Fundamentally speaking, Trump is going to have "breakfast" with Boris which in my opinion they might come up with some scheme to counter the situation they're in. XAUUSD(GOLD) had reached a weekly high which is waiting for a strong pullback & pound currently needs some strength in having a deal in brexit. So, this week is going to be a fun week of breakouts for GBP & USD pairings, trade safe :)
Long
by AnalyticalTan
GBP/JPY Bearish Swing Trade- Great Risk to Reward!The pound has been in a week state as Brexit concerns are still swinging their weight. Naturally the yen is going to be one of the safe havens that money will run to and I am looking for that flow to continue. I have two ways to enter this potential sell as I've shown it. Ideally we can look for a drawback and rejection at resistance to get a really good risk to reward for a bearish trend continuation. As an alternative we can set a sell stop below our current candle as we have it labeled and enter on a break of that support. I've drawn out major levels to take partial profit at and watch as we drop towards our overall target. If we fail to get our drawback and rejection, or a break below our alternative sell stop entry, this setup may become invalidated.
Short
by The808Trader
UK100, BREXIT,BEARISH WOLFE WAVE #RRR of 1:5 (AUTOLINES TEST4)HI BIG PLAYERS, here I present a new Wolfe Wave in the UK100 chart. This chart represent the 100 biggest share-companies of Great Britain. In any way we listen about the Brexit and the results of this decision is clear to understand for everbody. A big downtrend will build. The Wolfe Wave pattern show a bearish incoming side. In addition, the reason for a bearish Wolfe Wave is the rebounce on Fibonacci line 1.382 Acutally the pattern give a Risk-Return-Ratio of 1:5, but this are a weekly chart and shows a longterm bearishtrade. King regards NXT2017 ============== MY PERSON: I'm the second winner of the official German Forex Trading Conpetition in 2018. Look here to the ranks: deutsche-trading-meisterschaften.de I speak german, english and russian. My strength in trading are Wolfe Wave pattern.
FX:UK100Short
by NXT2017
GBP/USD SHORT & BEAR PLAY GBP has been under lots of pressure lately, All 8 Brexit proposals by the British PM (Theresa May) were all rejected. This has put the GBP under investor risk and uncertainty, the last 4 months been a Bullish ascending channel ride for GBP/USD. The bulls are no longer in play as the channel is broken to the downside with a strong retest and 200 ema daily crossover. The Fundamentals and Technicals tell the same story for GBP/USD which is WEAKNESS. A short will be our bias.
Short
by forexlyfeanalysis
Pound Sterling Massively Overvalued if No Deal Brexit We are fast approaching a conclusion to the Brexit story. While no deal Brexit chances greatly increased over the past week with a short extension of April 12th, UK Parliament is still weighing over whether or not to pass May's deal, a rejection of which would even further heighten the chances of a no deal Brexit. If the House of Commons can pass May's deal, then a major crisis is averted and pound sterling may trade at higher levels or may stay muted as a deal between the two is largely priced in. If however a deal cannot be concluded and pound sterling dollar is overpriced, then we can expect to see dramatic swings lower in this pair as a no deal Brexit would certainly bring chaos to the foreign exchange and equity markets. The politics of this situation are a bit tricky. Both sides want a deal which incentivizes some amicable conclusion to this. However, such a deal is not necessarily in the offing. Shorter duration trades could be made to the upside, but the politics remain key in price action since economic indicators and technicals are being dominated by the headlines. Much more analysis on how the politics could play out here: anthonylaurence.wordpress.com
by WhiskeyTangoFoxtrot3
GU long.. too much LOVE !!The level to focus on is 1.3526-1.3549, as this area includes two separate ABC targets from January and February. A break above that resistance range is needed to assume that a more meaningful rally is perhaps developing. n the downside if this pair breaks below 1.3170 then it will open door for 1.3000 area. if it breaks below 1.3150 then i will look for my entry point to sell and aim for 'D' point. All the best traders for this week.. its 1 am , going to sleep. good night :]]
Long
by Shourov_kk
EURGBP Scalping Strategy, How to exploit BREXIT volatilityLet's keep this short and sweet. Three charts, D for trend direction, 60 to spot trades and 15 for precision entry. If you look at D we're close to strong resistance(the big red circles), we're not quite there yet, that would be closer to 0.86, so now is not the VERY best optimal entry timing. However, this strategy applies to future trades. It's up to you if you want to wait for the perfect storm. When we say scalping and FX usually it means some badass leverage, and when that's the case I'll give you a golden tip, I don't want to explain it because it takes time, but use tight stop-losses. It's much better being stopped at any price then liquidated. It preserves a lot of capital at the end of the trading month. Once you get in, your stop-loss is the very first Spectro Auto Fibo Level after your entry point. The reason why I chose Scalping instead of a fundamental trade here is simple, fundamentals take time and research, for a scalper that doesn't matter. What it matters is that there is volatility, and that's something the whole BREXIT deal is giving us, doesn't matter the direction, as long there are moves that's what we're looking for. This strategy works both ways, with the same logic. Unfortunately, I took to long writing and preparing this and the price already breached two levels while I wrote this, that's the problem about sharing scalping strategies, it moves fast. Bear with me. In this case, since it's a strong downtrend on D, close to strong resistance, that's why we are shorting and not longing. Big timeframe trend dictates the type of trade I'll do - I'll only short this asset, not long as long as we have a bearish bias on bigger time frames, trading with the trend shift the odds on your favor. In this trade, there are many good bearish indicators, Omega Bearish Reversal on 15, XConf bearish arrow on 60 and the trend analyzer + Fibo Bands are very bearish on D. That's why shorting. If you don't understand how this indicator works go to my related ideas. Good luck with your trading.
Short
by spectertrading