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GBP/USD - SHORT FROM 1.24600Descending Triple Top occurring on the 4HR Wedge (Entry - 1.24600). Taking into account the Current Economic Situation and COVID-19, we at Sterling Capital FX belive the GBP is currently way Overvalued. New Lows of 1.14 have been created on the Pound Sterling, things are projected to get worse with the Country on Lockdown so we can expect retests of 1.14 as the UK starts to slip into recession. We Feel that Institutions will take Advantage of this Short Opportunity. Entry - 1.24600 Stop - 1.24800 Target 1 - 1.22400 (230 Pips) Target 2 - 1.20000 (475 Pips) Target 3 - 1.14000 (1000 Pips) Please be responsible for your own trade management, the above levels are take profits areas. Share, like and comment for more Analysis!
Short
by UnknownUnicorn455490
1
Trade setup #GBPUSD M15Sterling has been bearish for 2 consecutive weeks now. Price has been to the lowest ever, taking out liquidity at all time lows. coming down to the M15 timeframe, it seen that price has broken through structure and a harmonic (shark) pattern is being formed. Looking at a price bounce at 88.6 fib level which congruent with the Cartel Candle and first D leg of the shark pattern. i dont expect this to takeoff right now as we approaching the close of the week. this is just my bias on #GBPUSD. drop comments below follow me on IG/Twitter @the_pipcartel telwgram; t.me/the_pipcartel
Long
by the_pipcartel
1
#GBPUSD Institutional trading plus harmonic patternGBPUSD has had a bullish week, after doing a false breakout of frequently tested support level at 1.287 zone. Price went bullish afterwards towards 1.306 zone which is also a level tested multiple times, serving as resistance. Expecting price to do a fake-out, triggering the D leg of a bearish Cypher pattern also aligning with imbalance fill. taking my entry at 1.3105 with a risk/reward ratio of about 2.5. taking profits at institutional fake-out candle (cartel candle) and entering for a long position to clear out liquidity at Equal highs.
Short
by the_pipcartel
Market Overview #eurusd EurUsd has had a 2 consecutive weeks of bullishness, price breaking through some major levels of structures without a proper retest. The current level which was currently broken 1.123 zone which is the highest it has been since late 2019. Price triggered an order block at 1.125 which gave a fake-out of the 1.123 mark, taking out stop orders or retailers. I'm expecting price to cool off, break back into structure with a retest of 1.123 mark, would take a short entry to 1.091 zone where price failed to do a retest of cartel candle which would as well give an inverse heads and shoulder pattern, then i'll be looking to take a long position at that entry back to equal highs.
Long
by the_pipcartel
🔔 GBPCAD LONG-TERM SHORTOn the weekly timeframe, we can see the weekly IC level had attacked the previous high made in April. This gives me a reason to believe there was some sort of manipulation play and therefore the price may magnetize towards this region to satisfy that IC level. However, price may ignore that level for now as there is another set-up playing out in the 4HR timeframe whereby price is creating a bullish corrective wave that is estimated to lead to the 50% of our IC level which is our Optimal Point of Entry (O.P.E). This is a long-term swing trade so the reward is between 1000-2000 pips.
Short
by OnyxTradeHouse