GBPUSD (6B) - WEEKLY FORECASTHello Traders!
Sell Limit - 1.44049, S/L - 1.46000, T/P - 1.44000
Best regards, Powerful Traders!
Gbpusd1hr
2618 setup / Long the 61.8 retracement / Short Crab // IF=THEN ®FX:GBPUSD
Let's see what the market is cooking, at the moment began a retracement and pulled in 61.8% from previous weekly support.
IF the price break the previous structure, and IF starts a new fall that reaches the 61.8%, it forges one bullish 2618 setup with expectations of an upward move that by "default" breaks the nearest structure pressure zones, or resistances in this case, generaly speaking, IT CAN give us a rally.
At the same time, and this is why i'm publishing this idea a second time, and deleted previous on time, an eventual Crab pattern (with the point C at its limit) appeared on my sight with a target near previous structure zone. (look left)
Long the 61.8% retracement
Short the Crab when completed (point D)
CRAB
Point B:
38.2% to 61.8% XA
Point C:
38.2% to 88.6% AB
Point D:
161% ext XA
224% to 316% ext AB
Targets:
TP1 61.8% CD
TP2 127% CD
Ratios:
Safe trades;
Cable looks very bullish for now.After today's session, GBPUSD advanced rapidly and it is only few pips away from the open. This indicated plenty buying in the market. I would expect this pair to advance further and form consolidation pattern.
Long term downtrend must be assumed and short positions would be recommended from higher levels.
GBPUSD I SEE MAJOR SHORT BASED ON THE PRESENT STRUCTURE, I SEE A MAJOR SHORT COMING ON. WHAT DO YOU THINK, THE CHART SPEAKS FOR ITSELF.
Possible Gartley Buy PatternWe have to see price action to decide entry long in this pair, because we have strong daily and wekly resistance.
You decide your trade!!! ;)
GBPUSD GAINS NOT OVER, DON'T PULL OUT !this morning i posted a trade on this pair stating that we are looking for targets at the 1.618. however we are seeing a slight pull back that may scare a few folks into pulling out too early. this morning i mentioned a bit about pattterns always completing, so i'll show you what i mean and why you should stay in till target. look where i placed the black arrow. Measure from the top to bottom of that small move (red trend line, and place it at the high of the current pull back and see it lines up perfectly at the 1.618. this little move never had it's pair and it's now being completed.
GBPUSDThis is a possible short trade. We must carefully watch the price action specially where it would reach in the C point. What is shown in the chart is a possible .618 to 1.618 trade making a perfect ABCD pattern ideally, but this is not the perfect world. Where the C point reaches dictates the Termination of the D point. Where ever that might be this is a short short trade, cause the trend is UP. It is important to note that The PRZ will be the determining factor of this trade. The violation of the PRZ will invalidate the trade. Eg. The understanding the Price Action in the PRZ will make you a winner.
Trade Carefully and Be a winner
