GBP (British Pound)
GBPCHF – Buyers started following power of Gbp currency.GBPCHF – Buyers started following power of Gbp currency.
Trend: Buy/ Neutral
Support/Resistance:
R2: 1.29594
R1: 1.28518
S1: 1.27640
S2: 1.27036
S3: 1.26425
Price action:
Price is headed to test last Higher High by buyers momentum. If the price will break first resistance, it might go higher to achieve second target at 1.29594. If first test to last higher high is denied then sellers will test second support level at 1.27640. If sellers achieve second support and change it to resistance level, then price might change its way.
at 1.67298.
Potencial trade idea:
Bulls targets:
T1: 1.28518
T2: 1.29594
Bears targets:
T1: 1.27036
T1: 1.26425
NOTE – We are trading GBPCHF via the preferred trading setups
ELITEFXACADEMY
GBP/CHF Strong bullish biasGBP/CHF is in strong buyers territory, up trend and right now in consolidation mode. We are waiting on break bellow the structure and with target to the end of buyers territory or on the break above the structure and with target on the higher time frame 1.33700.
GBPCHF D - BearishDears,
please, find our information as mention on the chart.
God knows and good luck
GBPCHF – Buyers might go forward to test high levelsGBPCHF – Buyers might go forward to test high levels
Trend : Strong Buy
Support/Resistance:
R3: 1.31376
R3: 1.30305
R2: 1.28878
R1: 1.28184
S1: 1.27813
S1: 1.26778
Price action:
In this range market flow is caught into range flow, which is undecisional spot. Once buyers and sellers show the right timing, we'll know who's gonna continue. I have positive look to buy Gbp if buyers are able to hold above first resistance and then they have to break second target to reached new high levels.
Potencial trade idea:
Bulls targets:
T1: 1.28878
T2: 1.30305
T2: 1.31376
NOTE – We are trading GBPCHF via the preferred trading setups by EliteFxAcademy
DO NOT HOLD GBPAnother week is coming to an end and we have had some immense volatility across GBP pairs. We have some heavy GBP data this evening AFTER market close which has a high probability at showing if there is going to be a deal in regards to Brexit. With that being said, it is HIGHLY advised to close ALL GBP positions, as the future is unknown and come market open, we could potentially see a gap at 100 pips and beyond. If you are on the wrong side of the trade, it doesn't matter where your SL is placed, it will close the trade at market open, so for those that are new to trading, the consequences of not following this advice, could end up with you having a blow account!
*Always take a look at an economic calendar like the ones provided by FXStreet and DailyFX. If there is big news coming out over the close of the market, it is always best to stay out of the trade!
GBPCHF shortDue to fundamentals i wont be taking this trade however we can see a rising wedge forming which suggests we could see a temporary move to the downside. We also have bearish RSI and MACD divergence.
GBPNZD - D SellDears,
please, take care of your position as you can see we can enter when the price become bearish.
Good luck
Trading on divergence signalsEDUCATIONAL PURPOSES:
There are several indicators that one can employ during the course of analysis. One common indicator will be the Relative Strength Index.
What can you draw from this indicator?
Overbought and Oversold signals!
However, one can also use this indicator to spot divergences in the price and the relative strength!
Above are 3 examples of RSI divergences: AUDCAD, AUDSGD and GBPAUD.
The main idea is to look out for differing directions between the price and the RSI within the same period.
As we can see from AUDCAD and AUDSGD, price was creating lower lows while RSI was creating higher lows. This is an example of a BULLISH RSI DIVERGENCE, and price will soon start correcting.
In the case of GBPAUD, another higher high on the price carves out a lower high on the RSI. This shows that there is a BEARISH RSI DIVERGENCE, and price will soon start correcting.
Spotting divergences helps with timing of trade entries (whether it is too late or too early), exiting of positions and/or adding more positions. You can also use this as a trigger for a trade (i.e. a Long trade in AUDCAD, or a Short trade in GBPAUD).
The time frame that you use to spot divergences will affect how long you have to wait for price to start correcting (i.e. shorter time for H1 as compared to Daily).
**One important point to note when spotting or trading on divergences: Observe for price action in line with your bias (bullish price action for bullish RSI divergence, vice versa).
RSI divergences can fail should it carve a higher high or lower low that is in line with price.
EURGBP - 1H BearishDears,
Please, be information you can sell from our sell area (as mention on the chart) + price action.
thanks, and good luck
EURGBP - 30M SellDears,
as you see the EURGBP it will be beriash as per our chart.
Gad knows & good luck
Overview of GBPUSD - VideoA quick overview of my current position on GBPUSD.
Looking at GBP on the whole, I think there is the possibility for more upside and continued momentum.
(Here is the code for the basket I use GBPAUD*GBPCAD*GBPCHF*GBPJPY*GBPNZD*GBPUSD*GBPEUR)
GBPUSD still looks good to me but it looks like we are about to see a consolidation/correction in the very short term.
Watching for now, but will be looking to buy on dips.
KEEP IT SIMPLE !!!!! THE ANSWERS ARE RIGHT THERE !!!!!!Its easy to get carried away and over analyse our charts, but a lot of the time all we need to do is keep it simple; our biggest barrier is our emotions. ALWAYS KEEP THEM IN CHECK x
GBPUSD SELL/SHORTHi all, this is just a tutorial displaying trading breakout in the trendline! We can see price breakout and retest the trendline and fall since then!
Strong Trend Line Being BrokenIf Today's candle close below this trend line then we are good to go to 1.8120 But some correction is due.
GBPAUD - EDUCATION - 23. JUNE. 2019Welcome to DACapitalTrading, We provide any kind of Technical and Fundamental Analysis
for Forex and Crypto-Currency Markets every day!
-
1 HOUR
Very bullish price action..
4 HOUR
Price forming several HH and HL indicating a bullish pressure pattern.
DAILY
Sideways waving market found resistance now and is slowing down.
OVERALL
Price action is slowing down and found resistance, expecting a last push to the upside forming new H4 Highs
before heading back down to average price movement and psychological support level.
Will update everyone on monday!
Good luck
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Leave us a comment or like to keep our content for free and alive.
Have a great week everyone!
ALAN
Wait for the Easy Set-ups and the purpose of Trading I often have traders ask me, how can I get alot of trades? And my response is that is the wrong question, the purpose of trading is to make Money, Period. It is, imho, to make as much money as you can in as few trades and in as little of time as possible. Although I have several methods of trading, the SS MA method, shown here is my absolute favorite. It has an 87% success rate with a healthy 3-1 RRR.
That said, I often ask those same traders "If you could consistently make 6-12% per week but could only take 2 trades, would you do it?" The answers are surprising as again, imho, anybody that says anything but yes really needs to rethink why they are trading. You should not be trading for the excitement, you should not be trading just to hit buttons. You should be trading so you can sit on a beach with the cocktail of your choice in hand.
to that end, I would implore you to come up with your best trading methodology and trade only that. As I have prominently posted between my monitors, as a reminder to myself "Wait for the easy set-ups and don't do anything stupid in the mean time" :)
How I trade News with high probabilty and a Great RRR :) Trading news can often be a nightmare especially trying to trade at the time of release as brokers often widen their spreads
and slip orders to the extreme of the spike.
This is a high probability method with Great RRR
As you can see the market spiked up on worse then expected AUD GDP news.
then the market went into a consolidation, and this is key to finding great entries.
After the market consolidated for at least 60 minutes, look for a support level for a buy
and a resistance level for a Sell.
Place a limit order at the support/resistance level with stop appropriate for the pair.
(in this example I am trading GBPAUD - my fav, so I use a 20 pip stop)
Place your profit target at 5x your stop. This gives you a Robust 5-1 RRR.
let the trade unfold. If you have any questions, either place them in the comments or message me
Hope this helps :)
Allen
