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GBPJPY - Shorting entry in NEXT 1 HOUR!0.5 fib level intersecting with previous support now resistance level. This is just a relief rally that is bound to end as we are clearly in a bearish trend continuation (already called it in the idea I linked below). A possible entry for a short position to ride down would be 159.8 where a resistance level meets the 0.5 fib level. TP1 would be down again to 158.4 in the short term, if it break I will post an update :) Safe and successful trading!
Short
by managingchaoscapital
4
Time for a GBP/USD bounce?09:30 saw the release of Average Earnings and Claimant Count Change. Both exceeded expectation. This would normally see the GBP strengthen but so far we have seen little movement in either direction. 1.4078 was the low on 15th Jan 2016 and this level was (almost) reached 3 H1 candles ago and there are signs this may have been a double bottom.With RSI turning north from oversold and Stoch RSI flat, there's a fair chance we could be headed higher. I'm in this market LONG from 1.4115 with a STOP under the low at 1.4082.
Long
by theforexportal
Which way for GBP/USD next week 14th March 2016Very mixed picture for GBP/USD with several unanswered questions. If 1.4436 is a lower top and we wont know this for a while then we can expect GBP to weaken at the start of the trading week. RSI on H4 is overbought and turning south so we can expect some movement south if only to ease o.b. conditions. The question is how far will any retrace go? As long as we remain in the channel then I expect GBP to head south and look for support from the lower channel which will coincide with the 200 sma. If the channel holds then we can expect GBP to head much higher towards 1.50. A break of the 200 sma and the lower channel would suggest the broader downtrend is resuming and we can expect a return to a sub 1.40 rate. I expect GBP to head lower from these levels but find support for a push higher throughout next week. Heavy news week, next week from Tuesday.
by theforexportal
GBP/USD Headed higher1.4228 was a significant level that GBP needed to clear as this was the low from 16.5.2010. WE are safely above this level and with the absence of any further specific GBP related news, GBP/USD looks to be heading higher. I'm already in this market from 1.4275 with a STOP at 1.4248 which I shall move to b/e shortly. Target for this trade initially is the band of resistance that lies between 1.4563 and 1.4660. If we get up there I'll reassess my target accordingly.
Long
by theforexportal
5
$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
by GWaves
5
DiNapoli Trading on GBP/USD 400Pip move expectedAs you can see in the link below I have expected price to test and bounce from this area 6 days ago. I just saved it private for me because I only decided this weekend, that I would start sharing my whole arsenal of trading strategies and methods here on Tradingview. I fully expect a move to the OP (1.48) this time as the combination of the 0.618Fib level and the big Trendline is pretty strong and the most recent developments with Davids EU deal should help further. Also I think that these developments came too late on Friday and are not fully priced in yet and could cause some early volatility at market open on sunday. 1.48 is also a important retest of lows that go back to middle 2013 How to play it? Either enter right at market open but I'm pretty sure you would have to live through at least one retrace, even if not right away. Or let it run a bit without you and enter on possible retracement on lower timeframe. In any case before Friday your stop, if you wanted to bet on a further upmove in Cable, would have needed to be under 1.41 but now you can do the same bet with a stop under the recent structure( around 1.424). Cause it is total clear, and I mean TOTAL CLEAR! that if it takes out this structure now it will move and take out the low and continue into 1.30s. Enjoy and lets make some pips!
Long
by Fibtree
Long On EUR/GBP BUY BUY BUY !!! (RISKY SETUP)Reasons for -Firstly we have broken a strong trend line -We have bounced off 0.5 FIB level numerous times and its held strong -The previous 12 hours (3 candles) have been engulfed by this past candle -This shows us momentum to the upside -We made a new high and i believe we will test that high if not break that high and make a higher high -We are also up trending On the daily -Yesterdays candle was a bullish engulfing -On the daily the bounce of 0.5 Fib level is more evident -We are very bullish in terms of trend -Yesterday we bounced of a strong trend line a sign of Trend continuation Weekly -We are clearly Bullish on the daily -Currently breaking weekly trend line So the reason this setup is risky is simply my entry is abit late would of liked to got in 16 hours ago but never mind Lets see how this one goes we still have a decent entry All the best with this setup guys My entry 0.78095 1-3% Per trade ! Trade safe :)
Long
by ARFXC
4