Forrexsignals
GBPUSD | H4 | Trade Alert [Update]Initial position on GBPUSD taken out by a small margin as market headed up to touch our diagonal resistance which was created by our ascending channel which can be identified on our H1 & H4 timeframes within our overall larger structure which is currently in a consolidation(invalidating LTF QML formation). I’ll be entering a new sell position at 1.27518 with stops at 1.27924 (-41 pips) at final take profit at 1.25252 (+226 pips) giving us a 1 : 5.5 risk reward ratio. Should my orders not be triggered and price start trading above 1.28xxx I’ll be removing all pending orders while waiting for the market to give clear direction as we’re currently trading within a larger consolidation.
gbpchf looking for Buys with multiple confluence on mult. (TF)gbpchf looking for Buys with multiple confluence on mult. (TF)
gbpchf has broken trend and structure resistance with additional multi time frame confirmations will look to swing trade this entry
disclaimer - trading is risky and one can loose their account balance
USD/CAD SHORT SMASHED !! TARGET 1 HITThanks for your feedback! Much appreciation
Can we all agree That USD/CAD was a good MONSTER trade!!
target 1 was smashed
target 2 STILL RUNNING, MOVE YOUR STOP LOSS IN PROFIT AND BANK 70% OF THE PROFIT
Hope you guys banked your profit!! and i will post an update about any potential SETUP later
FOLLOW ME FOR ANY UPDATES . IF YOU HAVE ANY QUESTION COMMENT BELOW I WILL RESPOND
TOP DOWN ANALYSIS
WEEKLY TIMEFRAME
It has been an exciting time! we have see quite a rally to the upside, creating "higher highs" and "high lows" .But recently we have seen price creating a high low perfectly on the golden fib level 61.8% but lacked momentum to push it more high to the required target level 1.4000. so price drop 3 times to retest the demand level and price seems to range in between 1.33500-- 1.3000.But still our bias is still on the upside on weekly
DAILY TIMEFRAME
if we look at market structure we see market respecting "lower high " at 1.34300 and ''lower low'' at 1.30150 which we can see price retracing at 78.6% to the golden supply level around 1.33500. PAY ATTENTION TO THE PSYCHOLOGICAL LEVEL( SUPPLY LEVEL ) we see a lot of sellers at the level and rejection .this giving us more confidence for a potential short
H4 and H1 TIMEFRAME
all you have to look at is break of structure and how it is formed and how volume is flowing at those key level, wait for a potential rejection or wicks on the psychological level 1.33500 and i highly suggest proper risk management. this is one factor that separates retail trader from institution traders
Target 1-1.32000( SMASHED )
Target 2-1.31100
target 3-1.30500
Happy trading and thanks for your support
GBPUSD near support, could possibly bounce
Price is approaching our first support (61.8% Fibonacci extension, horizontal swing low resistance, 61.8% Fibonacci retracement )where a strong bounce might occur pushing the price up to our major resistance (horizontal swing high resistance, 61.8% Fibonacci extension). Stochastics also showing support. Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.