Continuation
GBPUSD FORECAST update and mini lessonThis is an update as to what im looking at on GU and why im looking at this. Pay close attention to the drawing, theres some nice lessons in this one.
Im looking for swipes of the buy side and sell side liquidity which you can be seen in the green, at the moment financial institutions are stacking orders (building liquidity) which is creating this correction.
Once liquidity has been taken the move will continue. Preferrably im looking for a sell to continue with the momentum down however i will take a buy down the bottom also as long as it fits the description.
As you can see in the drawing im looking at this as a higher time frame continuation down.
Generally flags have two highs and two lows, if you cant see this its a good idea to look over different time frames in order to find it to gain clarity of what is happening which is what i do
GBPUSD 1.40 + 0.21 % LONG IDEA * PRICE ACTION AND CONTINUATION Hello everyone
Hope everyone is good and had a great weekend, Here's a look at a trade that was broken down this past week see attached idea's its another look at the POUND / DOLLAR still watching price and looking for continuation with the bulls in an uptrend the pair is currently consolidating in a bull flag as we approach the nearest resistance level 1.40838 its clear as day that momentum to the upside is slacking a bit the bulls are loosing control but we still here.
* A break below doesn't necessarily change the plan watch price.
* Perfect opportunity for intra-day trades to trade roof & floors of the bull flag
* follow your entry rules
lets see how it goes.
AS ALWAYS PROPER RISK MANAGEMENT AND A LOT OF PATIENCE & AGAIN many stars must align with the plan before executing the trade, kindly follow your rules.
HAPPY TRADING EVERYONE & LET YOUR WINS RUN...
_________________________________________________________________________________________________________________________
ENTRY & SL - FOLLOW YOUR RULES
RISK-MANAGEMENT
PERIOD - SWING TRADE
__________________________________________________________________________________________________________________________
If this idea helps with your trading plan kindly leave a like definitely appreciate it.
USDCHF trade tonightNot sure why but this week, the more trades that end up in profit, the harder it gets on the psychology.
So many times, I wanted to close this trade but I kept it open and it kept on going up as expected. In the end I did close it and it did continue an additional 10 pips.
But I can't complain. I got some decent profits and getting close to my monthly target in the first week.
I took this trade as a continuation trade. I also saw an ICI when it was consolidating. Although I took profits just above my 2nd TP, but at this rate, it will likely hit 3rd TP, which would have been close to the measured move of the ICI.
Just be happy. Tomorrow is another day. Maybe I can reach my monthly target by the end of this week.
And you want to know the worst of it. I was in an EU short from 1.20460 but got out with a slight profit 1 minute before the Powell speech.
It was probably good to avoid risk and get out because it could have gone either way. But if I stayed in, it would have been another trade over 60 pips...
M15 Supply Zone, Downtrend Pattern LH LL LH LLYou can see Lower Low Break at H1 and M30. Smooth downtrend pattern LH LL LH LL, then price reversal. So I think current uptrend is for retest. Based on Bullish Engulfing M30 and H1 break, I found matching M15 Bearish Engulfing, in the same possible zone of M30+H1 SBR. Exit target is based on price level that connect lower H H H structure that breaks.
GBP/JPY Short - March 1st 2021 GBPJPY on the weekly has hit a resistance, similar to GBPUSD. Mostly due to the United Kingdom's vaccination pace, re-opening schedule guaranteed which means business can now prepare to reopen. However we are seeing U.S. yields rise on anticipation of a potential inflationary period in the U.S., this adds some strength to the dollar and money flowing from other currencies to it. The Yen is also used as a cheap vehicle to invest in other economies, so now with yields rising and asset values falling in the U.S., money may begin flowing back into the Yen to cover the borrowing.
DXY Bearish continuation pattern - DXY was developing in a bearish flag pattern
- Perfect break and retest of the support trend line
- Structure is pushing down
- Overall trend is bearish
- ( Candlestick ) Bearish Signal
- Plan is to go SHORT on DXY
- Take the trade when your rules are fulfilled
A BEARISH MOVE is probable in this market.