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Cable

GBPUSD 1-day classic patternsQ: What has the highest probability of occurring? In 2021 cable has also been rotating between $1.42 and $1.37. There are 2 classic patterns, 1 is validated. The double top, with a recent breakout of 1.3650 is validated. This pattern projects 1.3100 as the target. The double bottom , having recently tested and rejected 1.3600, would need to breakout from 1.4000 to be validated. This pattern projects 1.4400 as the target. Objectively cable was in an uptrend from March 2020 through March 2021. Price has been meandering around 1.4000 ever since. There are 2 clean resistance levels at 1.4250 and 1.4000 respectively. Continuing range bound price action about 1.4000 suggests this is the mean. Since the double top is validated the current position is short with a bias in favour of a throwback continuing. However the breakout has started to form that double bottom. The bias would change quickly if cable bulls decide to validate 1.4000 and ensuing momentum provides a 1.4250 test.
Short
by xciiitradingco
Small push has been madeAreas I'm looking at for 28th September - Price is still in the range of initial push from Daily Demand and retrace below the 50% of that push. For me the area its in now is showing a lot of selling - I'd like to see the supply areas taken out with candle body closure but ultimately it's the high of initial push that will need to be taken out. But doesn't mean there wont be opportunities to buy or sell why while this works itself out. Yesterday a Buy was possible on lower time frames which worked out very well. Trade Safe
G
by jp7fx
GBPUSD: Weekly Forecast 19th September 2021GBPUSD broke out of a minor range and headed south, essentially reversing the course of a short-term bullish trend. Overall, the market is still seen trading within a range between 1.3960 and 1.3610 and it is most likely to continue heading down towards the bottom. We can also see a symmetrical triangle forming so the rebound from the bottom may take place a little earlier at 1.3680 which could also be a buying opportunity. This week, we will focus only selling, awaiting pullback towards at least 1.3770.
Short
by AlgoVenture
MASSIVE DAILY INVERTED HEAD AND SHOULDERS ON GBP/USD!Hello my beauties. I noticed this massive head and shoulders has formed during the pandemic.It has led the price to break a bearish trendline that had been lasting since November 2007. Since the pound has been in such a prolonged downtrend, I wouldn't be surprised if it came back down to kiss the trendline, so I'd be wary of opening longs right now. The ideal scenario would be a drop around the trendline and a price reversal from there. I will be observing this pair as I believe it will be providing multiple opportunities. Check out my other analysis in the description. If you find this idea to be helpful like, follow, and drop a comment below if you'd want me to analyse a different pair. Consider supporting me if you think I am providing you with value. Peace. Luca, TrickleDownFX
by TrickleDownFX
HAS ANYONE ELSE NOTICED THIS MASSIVE FALLING WEDGE ON GBP/USD?Hello my beauties. I think that the cable has just broken a massive falling wedge. I believe it might kiss the trendline goodbye before leaving for good. If the pattern is set to complete, the opportunity could be massive. If you find this idea to be helpful like, follow, and drop a comment below if you'd want me to analyse a different pair. Consider supporting me if you think I am providing you with value. Peace. Luca, TrickleDownFX
Long
by TrickleDownFX
GBP/USD POSSIBLE LONG SCENARIO! WYCKOFF ACCUMULATION SCHEMATICS!Hello my beauties. I believe GBP/USD might be reaccumulating after breaking a very long term downtrend. I will be longing in case the prices breach the range to the upside. For more aggressive traders or range traders the opportunity is here already! If you find this idea to be helpful like, follow, and drop a comment below if you'd want me to analyse a different pair. Consider supporting me if you think I am providing you with value. Peace. Luca, TrickleDownFX
Long
by TrickleDownFX