Get started

Gbpusdlongsetup

GBPUSD Sets To Continue The Bullish Impulse PatternGBPUSD's advance from 1.14062 low is taking the shapes of an Elliot Wave impulse pattern. According to Elliot Wave theory, impulse structure consists of five waves sequence, three of the five-wave move in the direction of the trend while the other two move alternate the larger trend. In GBPUSD's case, I'm focusing on the corrective pattern in wave (4) of iii which is unfolding as a flat pattern. The pattern which is about to complete will give us a buy trade opportunity in wave (5) of iii. What's really interesting is that the alternation guideline is being followed. The guideline stated that if wave (2) is a sharp correction, then wave (4) will be most likely a sideway corrective pattern, vice-versa. Entry Idea Wait for price to retest the 38.2 Fib area, then watch out for the break of the blue line for buy confirmation. What's your view on GBPUSD?
Long
by Veejahbee
4
GBPUSD - POTENTIAL LONG AND SHORT SETUP FOR NEXT WEEK!We can already see price testing support area @ 1.29285, as the markets closes for the weekend. What we could see during the opening of the London market session is either price re-testing the support area, so the big boys can stop hunt those who are holding their sell positions over the weekend, then a complete bullish movement. Or for price to continue on the uptrend to resistance level 1.29699. We see resistance area at 1.29699 previously tested. Only Short @ 1.29699 when the London session opens which is at 8am. However, from 7:30am check to see if a strong bearish candle opens, which will be an indication to short, BUT Place the trade at 8am. Unless you are very confident, you can enter early from 7:45am. TP 1 @ 1.29285. Please note only enter this trade when price fails to breakthrough 1.29699. This could either be on Monday or Tuesday! MY TIME FRAME I SWITCH BETWEEN 15 MINUTES & 1 HOUR.
Short
by bigdaddydivi
GBPUSD Long Setup Target 1.3450 - SWING TRADEThis is going to be a bit long one i think. I have multiple entries for this trade. First one is Limit buy order at 1.18240 and the other one is BUY STOP above 1.2805. This is weekly chart so stop loss is going to be huge. BUY STOP order has 880 pips stop and BUY LIMIT order has 400 pips stop 1. ENTRY: 1.18240 BUY LIMIT 2. ENTRY: 1.2805 BUY STOP SL: 1.14226 400 & 880 pips 1. TARGET: 1.2804 2. TARGET: 1.3450 TRAILING STOP: I'm not planning to move my stop until the trend line breaks. I will move my stop right after each waves breakout. RISK MANAGEMENT: Minimum risk for this trade is around $90 with 1 micro lot (0.01 lot). So at least $5000 balance required for this trade (2% risk) DISCLAIMER: This is not financial advice Trade safe, Atilla Yurtseven
Long
by AtillaYurtseven
4
GBPUSD Forex cross pair supply and demand analysis forecastGBPUSD Forex cross pair supply and demand analysis forecast, buy opportunities. GBPUSD Forex cross pairs is rallying sharply creating very strong imbalances on the daily timeframes as expected and mentioned in previous long term supply and demand analysis done a few days ago for GBPUSD Forex monthly chart. We were expecting price to rally from that monthly imbalance and that's exactly what is happening on GBPUSD Forex cross pair. Check previous GBPUSD long term supply and demand analysis to learn the exact details of that longer term analysis There are two strong new daily demand imbalances created on GBPUSD Forex cross pair daily timeframe. Only longs area allowed in an uptrend, no shorts allowed, as simple as that. There are only three trading decisions to be made every time we look at a chart, either we buy, we sell or we do nothing. In this case we should be taking action since we have very strong impulse, selling is not possible so the only direction we should be thinking of trading is longs, bullish bias and forecast for GBPUSD Forex cross pair.
Long
by AlfonsoMoreno
1