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Cypher - GBPUSD - BearishHello traders, This is Ahmed from Pro Trading University. I tried to short this pair yesterday based on a trend following play, but that didn't work out. I am shorting it again right now based on a cypher pattern. In trading, it will really help if you have a short term memory, lol. I mean you might want to skip this trade because just 1 day ago you tried to short it and it didn't work out. Well, if you have a short term memory and don't remember yesterday's loser then your life will be so much easier. Ahmed, Founder, Pro Trading University
Short
by Ahmed-J
5
Trend Continuation or Trend Reversal ??? GBPJPYI am curious of what you think about this trade? Be eying it you might see a bullish trend, the market had been going up strong. However, when we examine the technicality of the most recent move, we determine that the market is bearish. We at Pro Trading University entered the market in a shorting position. So, I am curious, would you call this a trend continuation trade or a trend reversal trade? Let me know in the comments below :)
Short
by Ahmed-J
10
GBPUSD False Break Out Potential ReversalAs shown in this daily chart there have been about 9 false break outs above the 1.495-- resistance level, all of which resulted in a reversal pulling down way below the resistance level. Some of which reversed in the same day, only down around the 1.49--- level. Most however shorted down to the 1.48--- support level and some even shorted down to the 1.46--- support level. I am predicting that this pair over the opening day will short down to at least the 1.49-1.48 level of support.
Short
by asdasdasdasd
1
GBPJPY short Took a short on GBPJPY at 178.40 after price hit the 200 day MA and the 38.2% fib. We also hit our 4HR trend line. Price reacted nicely & bounced down to close the day with a shooting star, another bearish sign. This trade fits with my fundamental outlook on GBP which should remain under pressure in the near term with Labour now leading most polls over Cameron, and also with the impending stock correction both on the S&P & globally. Stop: 179.60 (above previous highs) Target 1: 175.00 (previous low) Target 2: 173.00 (or bottom of current channel)
Short
by buckleforex
Set-up of the Week - GBPUSD = GOOD CONFLUENCEThe GBPUSD has been ranging for a just over a month now but this choppy consolidation began to show signs of movement again by the end of last week. This week we have finally seen some real movement and it appears to be ending with a nice little set-up. There is some heavy resistance on the Bullish side with the 50ema laying on thee 1.5000 level, which has acted as major Support and Resistance in the past and again recently. Depending on whether you choose the Daily or Weekly chart to draw your Fib Retracements you'll see that levels lay either side of this price. We have chosen the Weekly chart. From this you can see throughout today price briefly managed to breakthrough and bounce of the 0.5 Retracement a strong reaction to this caused price to rally back down creating the Inverted Hammer we now see. With 2 hours left till the close for the weekend, we can't see this changing at all. Thus we have 5 string factors of confluence - 1. Inverted Hammer 2. 1.5000 Resistance 3. 50ema Bounce 4. 0.5 Fibonacci Retracement 5. Trading with the Trend For more analysis like this and to learn our strategy for free (no registration required) please visit forexvader.com Happy Weekend!
Short
by ForexVader
1
GBPUSD 4 HOUR SHORT LOTS OF UNCERTAINTY WITH GBP BECAUSE OF THE ELECTION WHICH IS CAUSING THE POUND TO DEPRECIATE. PRICE BROKE OUT OF THE RANGE LAST WEEK AND IT IS NOW LOOKING TO RETEST THE RANGE LEVEL (SUPPORT TURNED RESISTANCE). THIS IS A TEXTBOOK TREND CONTINUATION PATTERN (BREAK,RETEST,CONTINUATION) IF PRICE MANHES TO RETRACE BACK UP TO MY SELL ZONE I ALSO HAVE 2 FIB CONFLUENCES WHICH ARE THE 38.2 AND 50 FIB LEVEL. TARGET BACK DOWN AT SWING LOW WHICH IS ALSO A PSYCHOLOGICAL LEVEL.(1.46000) ALSO PRICE SEEMS TO BE APPROACHING A DYNAMIC RESISTANCE (20SMA)
Short
by remelthomas
GBPAUD 4 HOUR LONGPRICE HAS JUST MADE A HIGHER LOW WHICH LOOKS LIKE A GOOD OPPORTUNITY TO GET IN WITH THE UPTREND. THIS COULD BE A GOOD CHANCE TO GET IN BEFORE THE RBA STATEMENT ON TUESDAY. THEIR IS A VERY GOOD CHANCE THE RESERVE BANK OF AUSTRALIA (RBA) WILL CUT RATES WHICH WILL SIGNIFICANTLY WEAKEN THE AUSTRALIAN DOLLAR WHICH WILL CAUSE THIS PAIR TO APPRECIATE. THE REASON WHY IM PAIRING AUD WITH GBP INSTEAD OF USD IS BECAUSE THE US NFP CAME OUT BELOW 200K WHICH IS VERY BAD WHICH WILL CAUSE TRADERS TO SELL THE DOLLAR BECAUSE THIS NOW MEAN THE JUNE RATE HIKE IS DEFIANTLY OFF THE TABLE NOW. ALSO WILL BE HEAVY PROFIT TAKING. I AM EXPECTING A BEARISH SENTIMENT ON THE DOLLAR THROUGH OUT NEXT WEEK.
Long
by remelthomas
GBPJPY - STRONG SUPPORT + Double Bottom + 50ema BounceAfter we finished last week with a HUGE bullish pinbar on the GBPAUD (see: www.forexvader.com) , it looks like we might be able to ride the GBPJPY up too, with the confluence playing in our favour. The GBPJPY has been retracing in this descending triangle since Dec '14. Having been rejected from the 176.5 Support and the 0.618 retracement previously, price is now back at this level and with the Weekly 50ema joining the support, we could be set for a nice bullish movement. Looking at the daily we see an Inverted Hammer right at this level, a classic reversal candlestick. Timing your entry on the daily, a Stop Loss below the 176.50 support should provide protection against any bear correction movements. Eyes are set on 182.50 for the first profit target, where price could intercept the current trend line of the descending triangle. If price breaks through this resistance than I'll be looking to target 190.00 for the upside. If you see anything else on this pair supporting this potential bullish movement then please feel free to comment and share! For more like this and other market analysis (both technical and fundamental) please visit our site www.forexvader.com where you can also learn our very simple and easy to implement techniques.
Long
by ForexVader
4
GBP/AUD - Dominant Trend Reversal & Fibonacci Synchronicity The GBP/AUD pair has endured a powerful bear market since 2001, however, many correlating indicators are suggesting that we may be close approaching a confirmed pivotal change in the dominant trend. Our first major indicator was the cross of the 50/200 Exponential Moving Averages which occurred in January of 2014. The last time these indicators crossed was back in the summer of 2003 following a massive monthly head & shoulders pattern in 2001 at 2.95000. This "Death Cross" contributed to the acceleration of the bear market following the H&S topping pattern. We are currently witnessing an identical inverse scenario taking place as we transition into a powerful bull market. Taking a closer look we can see a 2 year descending triangle reversal pattern that formed from April 2011 - April 2013 with 1.4750 acting as the floor. Following the breakout of this impressive reversal pattern, we can take note of the 50/200 EMA "Golden Cross". Remember, the last cross of these EMA's was back in 2003; a solid 10.5 years ago. We have remained in a bull market ever since the most recent "Golden Cross" The recent price action has been exceptionally bullish; with this pair currently reflecting a massive bullish channel. This channel developed following a complex ABC pullback pattern that occurred after the "Golden Cross"; re-testing the 200 EMA as new support. Coming up to speed with last week, we had a massive bullish pinbar form at the key Support/Resistance level of 1.9000. This level acted as major resistance at the end of January 2014 which kicked off the ABC Pullback Pattern. We have now re-tested that 1.9000 level as support with a bullish pinbar that is indicating a new leg higher in this bull market. Utilizing our Fibonacci Tool, we are able to measure and identify that each new bullish drive off the bottom trend-line of the channel has occurred at the .618 Fibonacci Retracement of the previous up-move. Price then went on to target the 1.618 Fibonacci Extension with 100% accuracy. Keeping this in mind, the textbook price action of the last weekly pullback that ended with a pinbar reversal candle, point to the high-probability of the next bullish wave targeting the 1.618 Fibonacci extension at 2.07500. What makes this target even more appealing is the fact that the 50% Fibonacci Retracement of the last bearish leg down (measuring from the previous swing high at 2.7000 to the descending triangle lows) lies exactly at the 1.618 weekly extension at 2.07500. If this target is reached, broken, and re-tested as new support, this opens up the .618 Fibonacci retracement @ 2.22500 as Target 3. Last week's bullish pinbar provides us with the proper technical signal to enter a long position on GBP/AUD with 3 logical upside targets. Target 1 being the previous key resistance at 2.000 which triggered the most recent bearish pullback. Target 2 is our 1.618 weekly Fibonacci extension as outlined above. Target 3 is the .618 Fibonacci retracement of the previous bearish leg.
Long
by LoneWolfCapital
23
GBPNZD - POTENTIAL TRIANGLE FORMATION OFFERING BULLISH TRADENOTE: I am sure there are several economic & fundamental factors at play in this pair as is always the case in all financial instruments. However, I am not considering these and are analysing price chart from technical perspective alone. It is hard to make any long term accurate projections using any form of analysis, so price path illustrated on the chart are not going to hold and it should be considered as idealistic schematic diagram for anticipating larger cycle and as a guide in general direction. Chart Observations Whilst holding bullish bias overall for some time, I was puzzled by its inability to break above resistance recently resulting in complete review and here is a summary of my observations as follows: On larger time frame we have possible pitchfork which has defined the price path relatively well and it suggests an over all bullish longer term trend for this pair. (See 3day & daily chart price charts below for details) However, having moved of the low to September 2014 high it has gone into consolidation phase. Since September high of 2014, it seems so far that the price has been moving in a wider 3 swing zigzags and possibly forming what looks like a contacting triangle (this configuration Elliotwave is called 3-3-3-3-3 triangle, which is a trend continuation consolidation). If this interpretation is correct, then we can note that Wave A has completed and are in final stage of completing Wave B, having declined from February 2015 high in abc zigzag and are in possible wave 5 of C which could complete around 1.9350 - 1.93 area before reversing to the upside. Bullish trade could be planned and executed with necessary price confirmation in that zone with sensible money management. Previous structural supports could be used to plan for initial stop loss placement. Though it must be noted that this pair is very volatile and tight stops is not advisable so to manage wider stop position size must accordingly be kept small. It is interesting that the triangle formation is relatively large offering several long and short swing trades as it progress. Technicals: 1. Approaching lower range of the potential triangle. 2. Larger Wave B is nearly complete with minor wave c of abc zigzag in final stage ie wave 5 soon to complete. 3. Rising trendline and previous structure lows in close proximity where low is anticipated around 1.9350 -1.93. 4. Several fib retracement and extensions and projection proving confluence in the area. As, always please do your own analysis for your requirement. Select to follow me and the charts for notification of any updates. If you like the analysis show this by thumbs up and constructive comments or alternative ideas for all to learn from. Thanks for taking the time to view my analysis. DanV danv-charting.com
Long
by DanV
12
Gartley & ABCD on GBPJPY Daily TFThe current trend is controlling by bear which is pretty obvious concerning the fundamental issue. So I'm expecting the market may fall more. There is also a Gartley completing around 171.5 and a ABCD completing around 171.12 which can be a good point to buy the pair. But before that, let us have to wait to break the golden ratio 61.8% which is around 176. Else, we may end up another upward movement soon. Recommendation: Buy from 171.50 SL 167.50 Target can be 178.00 & 183 Good R:R can be found.
Long
by IamMuffee
2
EURGBP climbdownEURGBP is on very serious key support now. If 0.72200 level broke, this pair clearly will climbdown stronger to 0.71650 before bouncing back on retracement to 0.72270. This retracement level is the most suitable level for go short again and swing down to the next target at 0.71000. 1. Break level 0.72200, it will drop down to 0.71650 2. At 0.71650, wait for price action, if retracement happen, you can counter the trend and buy up to 0.72270 and go short again at that level. 3. Swing down to 0.71000
Short
by expertradersfx
1