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UK100 LONG PROJECT - 2 in 1Good day (and night :-)), All! Major bullish green wave and supporting its formation minor yellow WW are currently taking shape and will most likely be formed within the next day. Normally, I wouldn't trade such a wave alone, but with the support of lesser yellow one it's worth of giving it a shot. I would like to underline that major green pattern can't (!) be considered to be a standard WW as I'm ignoring the spike which is forming minor yellow wave (point 2). I chose such a form in order to keep the shape of green wave according to (more or less) classic pattern and as it also fits the minor WW. The yellow wave is correct and can viewed as a valid formation completely on its own. The targets of both waves are located pretty close to each other. However, I would expect the price to re-test previous resistance in 736x-737x area before reversal and if so, confirming (incorrect, but working) green major pattern. Good luck and great trading!
OANDA:UK100GBPLong
by OceanBlue
GBPAUD IS GETTING READY FOR A BULL MOVEIn my opinion this pair is a textbook situation for a coming bull move. Participants want to push it higher, but we dont have the sentiment quite lined up, to make for a "perfect storm" breakout so that buyers start to accumulate positions. Everytime it dips, there are buyers, pushing it higher again. I personally believe this recent dip to 1.60 is an important low, because the market formed a V reversal. Showing strong buying interest down there. This said as long as we are below the downward trendline there are still some risks to the downside, and i am not willing to enter before we break the trendline and the green rectangle. Next week, we have the RBA rate decision on the calender, if we see some dovish talk, that hurts the AUD we could see this momentum shift expanding higher. Thats when i will be ready to enter my position. There are not a lot of data releases next week regarding the GBP so i think, brexit news and developments could take the center stage. If we get hints that a scotish referendum wont likely take place or something similar, this will be a strong fundamental support for the GBP. This would also be a scenario where i would like to engage in GBP longs. So as always in my opinion the evaluation of the fundamentals is the most important part of trading. Technicals are secondary and they will show you good places to enter, but fundamentals decide what will happen in first place. Blessings to you all.
Long
by IamJeanPaul
GBPUSD IS GOOD TO BUY FOR A 250 PIP MOVE HIGHERI am not seeing any fundamental reasons right now for the pound to break recent swinglows around 1.20 thats why i am seeing this downmove from 1.2750 towards 1.2200 as a textbook buying opportunity. The 5 wave downward move has ended for me on 1.22 and the market made an impulsive move higher towards 1.2370 taking out several resistance areas. So 1.22 shouldnt be broken any time soon. Especially important for me is the 1.23 low, i think dips below 1.23 right now will be shortlived, and market is willing to bounce higher towards my target at 1.25 where strong resistance is located, a bigger move may be possible but this idea is targeting 1.25 and not more except something fundamentally changes and the market clearly shows a strong will to push above 1.25. Personally i will wait for a move towards 1.2250 and evaluate on smaller timeframes if an entry is in my favor my stop will be placed at 1.2200 and my target as mentioned is around 1.25 my stop will be trailed higher, if the market moves in my favor. Please use decent money management and risk control for this trade. Best of luck.
Long
by IamJeanPaul
4
GBPNZD: the cable is about to riseSo here is another gbp pair in which we can highlight the possible GBP growth. We have all the technical data here to consider a long with a good risk/reward ratio. Here are our plans: Plan A: we buy gbpnzd during todays trades and keep it until the price shows weakness. Stop-Loss: 1.79163 Take-Profit: 1.89319 Prfoit ratio: 3.03 Blan B: anyway we need to be ready to change the position in the case of GBP weakness. That's why we're ready to close long positions but without opening shorts with this pair. For more ideas visit: mercuriusam.wordpress.com
Long
by EmilShakaryan
GBPUSD PSBL TRADING CHANNELFor now on monthly chart we need to focus on BLACKA PARALLEL CHANNEL for any direction. If it hit upper black line then go short. Going long in this weak pair kinda risky now, even though it has been over sold and limited bounce is very common. The second channel can be the between the solid red line and the solid green line for more trading room. But either way more low is possible in next few months to year. Safe bet is when the pair hits on of the top black or red line keep going short.
Short
by sum1