GBPJPY | On Monthly S2 Resistance + trend line breakout to SELLGBPJPY | On Monthly S2 Resistance + trend line breakout to SELL side.
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GBPJPY Currency Strength Bearish - Expected Possible Fall Daily CSS made cross back into bearish side which means, daily back to the weekly trend which is clearly very bearish ...All we need now is a good confirmation from the (counter trend) pull back for our entry in trend (sell)...make sure no special news around...and get the deal :)An confirmation of weekly resistance rejection will be a great reason to look into getting in...
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GBPJPY Towards it self into the next major resistance level GBPJPY been running low and retesting the bottom couple of times and we finally see breakout into the bull side.
Now we wait to see the next resistance to be broken as additional bull power for those among us who buy GBPJPY.
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GBPUSDAfter GB Poll and a fall for GBPUSD the currency volatile between two lines.
there are two possible moves
1- Rise from this point according to Pinbar Stablish and break the downtrend line and targeting the top resistance! which could be more possible ( Pinbar confirmation ) - If so we'd better wait till the break of Downtrend line and passing the previous lower high!
2- Pre-Pullback to the Support line and a Sharp Fall for GBPUSD. to confirm so we could watch 2 things!
A- break the support line B-Trend Goes lower than the previous Major low
NZD/USD - Longs now in play!Taking a long position on this pair based on the following reasons:
- Break and retest of key 0.70 level
- 0.5 fib level held strong
- Double bottom
Let's see how this turns out!
BREXIT23rd of June could be the day for the BREXIT (Britain Exit of the European Union). If they leave the EU, the EUR would rise.
GBPEUR long opportunitiesPossible trade setups from the ascending triangle.
Could wait for a break to the upside or watch to see if the triangle continues to play out and buy at a later stage.
Profit target is based on previous structural levels
$GBPAUD Wolfe Wave and Geo Off-Set RuleHello Traders,
Here we have 3 Wolfe Wave's(WW)
WW #1 - In the grey dotted line. This WW is near it's target at #1 Geo Off-Set Rule at point 4. The Geo Off-Set Rule here plays a role in the next 2 WW's.
WW #2 - In blue dashed lines. This WW is internal to both the first and third(in purple) WW's. The Geo Off-Set Rule in the first WW act's as a point of reversal for the internal WW which created a 5" (5 double prime) structure. 5" calls for a Geo Off-Set at point 3. Represented as #2 Geo Off-Set Rule. This second Geo plays a role in the third WW as well.
WW #3 - In purple solid line. This WW formed as price was making its way towards the #1 Geo Off-Set Rule of the first WW. The first Geo will act as point 3 of this third WW. When this target hits, ideally price will hit point 3 of the internal WW and give us point 4 of the third WW. The dashed purple line represents how I see this structure forming.
This is an observation of the Wolfe Wave and the Geo Off-Set Rule. I would be interested to see how the structure forms.
If you agree with this idea please like and follow for more interesting observations. :-}
-Chartistry
Possible moves on GBPZAR (cypher and bat patterns)Quite a late entry into a daily bat pattern, which we could gain a few pips on nonetheless. Even if it does stop out we still have a potential movement into a large cypher pattern which could provide a large number of pips.
TRYGBP bearish Gartely supported by long term resistanceCD leg with a 1:1 ratio with the XA leg falls into the blue region shown on the graph (which is also a confluence of the 0.786 retracement and 1.272 extension, so will look for this as an entry point .
Stop loss is based on previous structure support as shown by the horizontal red line.
Not only is this a nice Gartely, but we also have the entrance point on the line of long term resistance , as shown by the black line (zoom out to see more). For this reason, we may see a much larger drop than the initial price targets.
RSI is nearing an overbought state.
GBPZAR potential for a big rallyFalling wedge with 5 hit points, approaching a 6th and final one for a strong breakout.
Excellent previous structure support (indicated by the horizontal black line) asking for a rebound into the upside. I think that this falling wedge will accentuate the rebound off the support line.
Major bullish divergence on the RSI occurring in the oversold region.
Profit targets are indicated by the horizontal green lines.
GBPAUD falling wedge Falling wedge with 6 hits (currently).
Looking for a 7th hit and will be watching closely for a breakout on the 8th. The length of this wedge suggest to me that there could be a strong breakout.
GBPUSD at long-term supportGBPUSD sits on a long-term support line, projected at 1.4850 from minimum levels of 08.Jul and 04.Sep. 1.4850 is additionally confirmed at weekly timeframe by descending trendline from 2008.
Test and rebound from 1.4850 could be used for entering mid-term long positions targeting 1.5180/1.5200 area.
GBPUSD has tested weekly support 1.4910I. GBPUSD has tested weekly support from 2008 highs.
II. On 4-hour timeframe GBPUSD has tested and bounced twice from dynamic support created by connecting minimum levels from 08.Jul and 04.Sep, 1.5330 and 1.5163, accordingly.
III. Hourly timeframe confirms 1.4910 support level and signal line 1.4970.
Close above 1.4970 would confirm GBPUSD rebound from important support 1.4910 in direction of first target 1.5105.
Alternative scenario: decline below 1.4900 down to following static level 1.4830.
