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Bulls might soon pick up the pace, and send the GBPNZD higher!While the greenback is smashing upwards, I think that the GBP is starting to look interesting. The last couple of weeks, the GBP has been pulling back across most pairs, but now i think it is about time to go long. I see opportunities on a number of GBP paris, but to minimize exposure I have selected my favorite; GBPNZD. The overall momentum has been bullish since April 2013, but the last couple of weeks, price has seen a selloff from 2.08, all the way down to where we are now. I think that 2.0, is a brilliant level for the bulls to step in and take this pair higher. Yesterday was a clear rejection of the level, which indicates to me that bulls are present at this level. Furthermore plenty of confluence are racking up here: 1. Overall bullish momentum since the bottom around 1,8 2. Sellers from the top at 2,09-2,1 losing steam 3. Possible tweezer bottoms approaching on daily 4. Rejection of key support at 2,0 5. Trendline rejection 6. Rejection of dynamic weekly resistance (50EMA) 7. Rejection of 50% weekly fibo level 8. Bullish MACD divergence If todays candle rejects the 2.0 level again, I am definitely looking to get long! //Laban132
Long
by Laban132
CADGBP POTENTIAL SHORT @~0.5360I messed up the original post for this so I am trying again. The Canadian Dollar has rebounded well against the British Pound leaving a bigger picture demand zone below @~0.5140. Price is now coming to an area where there might be a sharp decline away. This supply zone @~0.5360 is also the 50% pullback area of the original down move indicated by the red arrow. Price should fall away upon reaching that zone. Entry Point: 0.5360 Stop Loss: 0.5400 Profit Target 1: 0.5140 Risk: 40 pips Profit: 220 pips (5.5X Risk) Entry can be fine-tuned on the H1 timeframe for lower pip risk and greater profit margin as follows: Entry Point: 0.5365 Stop Loss: 0.5375 Profit Target 1: 0.5140 Risk: 10 pips Profit: 225 pips (22.5X Risk) Entry Point: 0.5382 Stop Loss: 0.5400 Profit Target 1: 0.5140 Risk: 18 pips Profit: 242 pips (13.4X Risk)
Short
by selfrighteousgambler
GBPNZD POTENTIAL SHORT @ ~2.05400 OR ~2.07100GBPNZD has been working its way into a descending triangle for a while and should be coming to the end of it now. Descending triangles at the end of big extended rallies usually lead to a collapse in prices. We should a rally soon. Hopefully to the top of the triangle so we can get more pips as it breaks the overly tested area @ ~2.03400. The supply zone @ ~2.05400 happens to be an intermediate supply zone within the bigger picture zone. There should hopefully be enough sellers to create an imbalance in the market at that price region. With a 50-pip risk on this trade, you'd be looking for at least a reward of 7X risk to the bottom of the triangle and better if it breaks out
Short
by selfrighteousgambler
GBPUSD POTENTIAL LONG @ ~1.52480I have been following GBPUSD since the last week in February (24/02/2015) and got in on a short (with a limit order filled on 26/02/2015) of the pair @ ~1.55500. I racked up 140 pips by the end of day but I locked in 110 pips and let the market kick me out. The market is moving back towards the bigger picture demand zone below @ ~1.52480 which should see a bounce (as it is the 0.50 of the prior up swing) . The bigger picture trend is down so profit margin will be limited to the forming of a strong supply on approach to the demand zone. Look for good reward:risk ratios (3:1 at least). A bounce from the demand zone should send the market back up to ~1.55500. This will be affected MASSIVELY by news on Friday. Hopefully, the news pushes price right into the zone. A 60-pip stop loss is not my type of risk. I'll wait for the market to penetrate the zone and the reverse before entering on exit from the zone.
Long
by selfrighteousgambler
1
A Change In Sentiment - GBP/USDTechnical View: GBP/USD has broken out of a 6 month descending channel on the weekly chart to the upside. The initial bullish surge occurred at the key psychological level of 1.5 forming a triple bottom formation. This suggests that the bearish pressure is diminishing and that we may see an established bullish reversal. A retest of the backside of the channel and 1.52 as new support will be confirmation of a change in sentiment. Fundamental Picture: 1. Expectations for a timely Fed Rate-Hike are diminishing on dovish Yellen. 2, Expectations remain strong for a U.K Rate Hike 3. Governor Mark Carney retains Hawkish Tone 4. UK GDP within expectations for Q4 at 0.5% 5. U.S. GDP expanded by 2.2% in the fourth quarter of 2014, below initial estimates for a growth rate of 2.6% but above expectations for 2.1%. Contact us: www.infinite-prosperity.com
Long
by LoneWolfCapital
8
EURGBP - REMAINS IN DOWNTREND At the time of publishing my last chart and subsequent update to this pair, where I suggested possible significant low to form did not materialise. Due to the nature of decline following ECB's QE announcement, it seems to be still in wave 3 decline. Wave 3 often extends and are very strong. This is what appears to have happen, where the complete cycle was expected to end it actually gathered momentum to the downside. This has called for a complete review and now feel that potential downside could continue for a some time. Within the overall bearish cycle, we are now approaching possible termination of wave iii of 3, around 0.72 where a wave iv of 3 could develop offering short term opportunity to go long. However, a better trade would be for the retracement to complete when a short trade could be planned around 0.76 with downside target of 0.71 or lower for completion of wave 3 in the vicinity of some fib confluences and previous area of resistance which could now turn into potentials support (see monthly chart the details) As always, do your own analysis for your trade requirement. Select to follow me and the chart for notification of future updates. If you like the analysis then please indicate this by thumbs up, comments and sharing with others. If you have an alternative idea then please share for all to learn from. Thank you for taking the time to read my analysis. DanV danv-charting.com
Short
by DanV
1
GBPUSD - SHORT TO INTERMIDIATE TERM BEARISHIn my previous longer term chart of GBPUSD the low I anticipated did not materialise at the level noted on the chart and the prevailing bearish trend continue to recent low. From the move up from that low , it is nor very clear if that final low has been formed or we will retest that low to form longer term low. However, in the short to intermediate term there is potential short trade in the making for the following reasons: 1. We appear to have moved of the low in abc zizag with wave c being in the form of rising wedge (ending diagonal which is terminal meaning that particular cycle would end) that could complete around 1.5450 - 70 2. With accompanied RSI divergence. 3. Fib confluence with the topping zone. 4. DXY still need a final equivalent leg to the upside to complete its bullish cycle. Even if the final low in GBPUSD is in for bearish cycle we could still retrace to 1.52 zone before continuing to the upside. As always, do your own analysis for your trade requirement. Select to follow me and the chart for notification of future updates. If you like the analysis then please indicate this by thumbs up, comments and sharing with others. If you have an alternative idea then please share for all to learn from. Thank you for taking the time to read my analysis. DanV
by DanV
38
Example of Rising wedge in GBPUSD 4H TFThis is a pure example of Rising wedge chart pattern to trade on. This pattern is bounded by two converging trend lines. We know this pattern is usually traded for a reversal trend. It is a bearish pattern which signals us the pair is likely heading downward. Though, it is also indicates that a continuation of the trend. If it fails to break the bottom trendline (Support) and which can lead us to have new high. Everything is depending on the trendlines are broken or not.
by IamMuffee
8
GBPJPY Short to 180.300 Okay so the chart you can see has a fairly steep channel and that's probably what you've noticed first. However, let's look at the wider picture. The downtrend has been in place since the 5th December 2014. On the 28th of December we saw the trend take shape as the lower-high formed a trend line with the 5th Dec. price. On the 2nd of Jan we saw the price come close to the trendline before a big sell-off. Since then there has been two major support and resistance levels; at around 180.250 and 175.750. The support at 175.750 has formed a triple-bottom which caused the price surge; this resisted at that 180.250 line but eventually broke through and then found that resistance as support. This price increase was steep and thus formed a steep channel. A triangle has also taken shape and is coming to a close. More interestingly, the price once again bounced off that long-term trendline which included a small breakout but ultimately a price rejection before continuing back down Therefore the channel should soon breakout and we'll hopefully see a retracement down to that 180.250 S/R level; where there are previous closes and the cloud as confluence. This should be a straight forward trade and I've calculated a 5:1 Risk/Reward which is shown on screen.
by AaronLeggett
Bearish ABCD Completed on GBPJPY 1H TFHey there, as we can see Pound is pounding Yen in last two days. Some positive data took it this high where ABCD Pattern completed at 181.39-40 area. Which is giving us indication to have a short entry. I took two entry from this pattern though I need to make sure this pattern is being respected as it is still in the PRZ. My entry will be shorting from 181.40-45 SL 181.95 target is around 180. But lets not forget even if NFP effect has been ended (Usually it follows USD while NFP), market is still moving high and may take our Stop. So I hope you put your lot effectively. Also don't forget to trail your profit since we're going against the trend.
Short
by IamMuffee
11
$GBP $AUD, its all about following the trendFrom last few weeks, we can see AUD is gradually falling as well as Pound is gaining strength agains AUD. As for that, this pair is continuously in a trend which is taking it high and high.. Following the trend will be a very good idea to trade this pair. There is also a ABCD pattern completing around 1.98. So, I guess we may see some retrace around that area. Correction: As par @NicoMuselle s idea, we can see, there are 3 ABCD pattern completing around 1.98. Is this could be a game changer? Lets find out.
Long
by IamMuffee
4
Somthing to Think About #2In the grand scheme of things it looks as though a shift is ready to take place. It has taken me some time to realize that shift but it is finally here. Take look at the GBPEUR to the left. Notice how its price moves are converse to that of WTI, EURUSD, and XLE. The yellow circles you see are areas where similar behavior is forming. In the GBPEUR the opposite behavior is forming to the downside. You can see this correlation is approaching a long time resistance level. Just as the EURUSD is approaching a long term support level. Oil looks to correlate positively with the movement of the EURUSD. As it also moves in exaggeration to the XLE. Using specific points on the XLE as support and resistance. Could I be on to something.....YESSSSS or Maybe I"m reaching...? This can all simply be money moving back and forth. Most regular people like to sit in cash. There are times where this is good reasoning. Don't just sit in it. Swim in it till you are ready to strike and when you strike do it with the speed to the Millennium Falcon in hyperdrive. Note: Might be a good idea to run some spreads on these instruments. Should we be watching the EU and UK to know where we are going?
by HaydenKing