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$GBPUSD idea; 1.705 down to 1.6982H Chart: as this pair has been in a slight over-buy lately with no BoE releases supporting it. I believe we will see a greater decline in this pair. Keeping in mind, I have a strong feeling this pair will be a long-term decline. I'll be opening higher-leveraged units on this pair to ride the coaster. I'll also be taking a quick look at some BoE releases if any this week. forgot to mention; i'm a high risk trader so this is a 50k-70k unit trade Take a look at my Linked related ideas for my long-term outlook on GBPUSD.
Short
by zcsniper
Finally Hit February Target ... Spot On | $GBP $USD #BOE #ForexFriends, A lot of paper printing has been going on since we first released a Target-High @ 1.68923 on February 2014. This was a long call asking the position trader to hold tight, but a prop pattern justified the initial call, and back with the right predictive analysis and forecasting system, I am glad to see it attain its final destination as of today - Here was the initial analysis and forecast: Now that the pattern has come to a close, I would like to add a cautionary note to eager bears. Looking at the chart closer (i.e.: from an initial weekly/daily analytical eye to a wary H4/M15 glance), there is a possibility of a reversal at an incrementally higher level. From a weekly scale, this may be of no particular interest to the position traders, but worth noting, as I am preparing for a potential reversal, which require finer granular approaches. Indeed, a prop reversal pattern is calling for a top at TG-Hi = 1.69166 - 01 MAY 2014. Most importantly, this potential reversal may also become another position trade opp, as a larger pattern points to a resting target-low at 1.58923. Considering the scale of the pattern and the timing to completion (similar to the forecast that lead to this particular target-hit), if indeed a reversal occurred, smaller-timeframe trader might simply be aware that a new directional wind may be underway. I recommend that the experienced trader uses his own accustomed armamentarium to affirm or infirm the possibility of such reversal, as I remain available for discussion about your methodology, as well as mine - although I cannot reveal too much of what's proprietary. Nonetheless, feel free to share, discuss and rate using the features offered in TradingView. Much appreciated. OVERALL: Major reversal is underway at or near target validation achieved today. A slightly loftier reversal target may exist for the finer granular traders, but in the scale of a larger frame of interest, I am now looking for reversal signs and signals. The directional tag has been turned to Neutral for cautionary reasons explained above, even though the strength remains bullish. Cheers, David Alcindor Predictive Analysis & Forecasting --------------------------------------- Trading against a rigged market can be damaging to your health, even lethal. If you itch to put your life savings on the line, talk to your spouse over jasmine tea or some tranquilizing beverage - The appeasement is not for you, but for the spouse against your excitement. Oh, and consult a professional licensed financial adviser or someone who has knowledge of the financial vehicles that designed, packaged and sold you by these same financial institutions against which you trade at a disadvantage. But, before you step into that trap, always do your due diligence, and stop thinking you can outdo the market. Lose only what you wished you would have earned in retrospect, which is what you already got. ----------------------------------
by 4xForecaster
1
GBPNZD: Classica and Harmonic Structure Signal Further Recovery GBPNZD: Classical and harmonic structures signaling additional recovery Chart Setups: 1- Bullish harmonic pattern. 2- Potential inverse head and shoulders pattern with a confirmation line in the 1.9500 regions. 3- Prices are being carried by SMA20 from the underside. 4- Fibonacci retracement of 23.6% of CD leg was taken out, opening the door up towards 38.2% where the first technical objective of the harmonic structure resides. 5- Vortex and Know Sure Thing indicator reflect the strength of reversal. 6- Neckline is very close to 38.2% Fibonacci. Buy at current trading levels aiming to beat confirmation line with stop loss at 1.9060. Soft target is at 1.9820 where we can close 50% of the quantity used for long positions, while the main technical target of this setup resides at 1.9960.
Long
by Amir_El_Araby
1
GBP/CAD - Upbeat UK data & dovish BoCI have started building a long position at GBP/CAD based on two fundamental views: 1) With the UK economy maintaining impressive momentum, I expect further upbeat data releases this week in form of CPI and employment change, highlighting the fact that the Bank of England could be the second DM central bank to hike interest rates after the RBNZ. 2) The Canadian Dollar has recently strengthened as economic data has caught the market by surprise, leading to a squeeze in an environment where positioning was already crowded. However, I believe that the Bank of Canada will be very cautious and reinforce its dovish message, thus driving the CAD back lower. Given the risk of further dovish comments from Fed Chair Yellen, I prefer to buy GBP/CAD instead of USD/CAD. I have entered a first, small long near 1.8320 and am looking to add to the position should we see dips towards 1.8280 and 1.8250. A clear break below 1.8150 would make my trade idea invalid and I will fully cover the position. As profit target, I am aiming for 1.8550 as first target (taking half the position off and leaving the remaining 50 % open with a trailed stop).
Long
by Milan