Get started

Pound

GJStill holding a bad trade from yesterday, entered too early. DAILY We had a close with a reversal stop candle which was showing us downwards demand, now we we are forming a bullish reversal candle. So we know that the candlestick use is wrong, as we should use patterns to give us more guidance. Retesting 192.00, which we have established as our resistance and price of reversal. 4H 192.50 was the turning point and we are still moving to down side, so we will wait and hold. Having a trend within a trend, we have a bullish reversal channel forming in the larger bull structure, therefore we need a break and retest in order to fully execute this trade idea. 1H The close of the candlestick will give us the confirmation we need to start thinking of placing our sells. 191.60 is where we need to break and reject before we fully execute. 15Min First let price reach 191.80 and break through here first.
Short
by Mhangwane1
GJWe were triggered in our sell and stop out within a few minutes. So we must sit back and wait for a better trading opportunity. DAILY We fighting to go up and candlesticks are very bullish. We will possibly see a 193.00 touch 4H Support at 192.00, if we get a rejection here at 192.70 we could get a nice sell opportunity. 1H It's a bad trade idea, we have only one confluence, RR is not what we would go for and highly risky. Our aim is to trade with the lowest amount of risk. 15Min Stay watching
by Mhangwane1
EURGBP: Multiple Time Frame Analysis & Bearish Outlook 🇪🇺🇬🇧 Take a look how EURGBP reacted to a daily falling trend line on a 4H time frame. The market started to consolidate within a narrow range and was stuck within for 2 trading days. Today we see a strong bearish movement with a confirmed violation of the support of the range. It indicates the strength of the sellers. We can anticipate a bearish movement lower, at least to 0.8562 ❤️Please, support my work with like, thank you!❤️
Short
by VasilyTrader
3
GJDAILY Still expanding the current wedge we are in. Peaking at 193.50, which could either be our ceiling this week or our target before heading up to 193.60 4H We are still in a small pullback flag, so the assumption stays that long term we are bullish but no commitment as of yet. 1H We either going to bounce on 191.30 or we are going to get rejected at 192.00, for now just hold on and wait. 15Min Opened with gapping downwards and now we are shooting upwards. So that shortfall will be recovered, for now stay watching. We'll wait for more developments.
by Mhangwane1
GJWe did well on the trade. Now rinse and repeat. DAILY Broke down below 191.24 and closed there. We are currently forming a reversal candlestick, the next candlestick will give us direction. 4H We are trying to reverse from the drop that happened. Bouncing off 190.80, and we still pushing up. We still in the middle of a bear channel reversal, so we are waiting for it to touch either 190.00 or 192.00 before we follow through on any trades. 1H Waiting for the rejection at 191.24 or the break through of it so we get more direction of what we are doing. 15Min We in a downtrend, so there is no intention to look for longs. NB!!!!!!!!! NFP FRIDAYS WE ONLY TRADE AFTER NFP TO AVOID DOING THE WRONG THINGS.
by Mhangwane1
GJWe did well and got both our trades hit our exit point. Now rinse and repeat DAILY Broke through a resistance level and started creating new highs, plus our ascend was very impulsive and engulfed the bears in the market. Indicating we are pushing up and fighting bears now. 4H 191.24, the support price I will believe will give us further signs to look for longs in the market. 1H Broke 191.24, retested 191.80 and kept going. Now it's slowed down at 192.20 so we stay patient and wait for the trade to come to us. 15Min Next candle closes bearish engulfing and we will have some sort of bear run, just the length of the run we won't know exactly (remember we are in a full bull run, Daily structure)
by Mhangwane1
NFP preview: Trading S&P or GBPUSD? NFP preview: Trading S&P or GBPUSD? US Fed Chairman Jerome Powell has reiterated on multiple occasions that a tight labor market acts as a deterrent to lowering interest rates. Which is why this month's NFP data release should be interesting. This Friday's Non-Farm Payrolls (NFP) data is expected to show an addition of 200,000 new jobs. Since Feb 2023, data has consistently hovered between 300K and 150K. Many of these initial readings were subsequently revised downwards. Nevertheless, at the time, they significantly reduced the likelihood of Federal Reserve rate cuts and, most recently, bolstered the dollar. Traders anticipated ~6 rate cuts at the beginning of the year, but now will be content if the Fed reduces rates three times. However, even three rate cuts are dubious, given that most recent US data has exceeded expectations. This Monday, the ISM manufacturing index turned positive for the first time since October 2022. If the NFP data surpasses expectations, GBP/USD could become an attractive trade. In the event of a soft NFP reading, attention could shift to the S&P, which would have a window to rebound before major banks commence reporting their latest earnings. GBP/USD has remained trapped within a rectangular pattern for almost 100 days now, potentially indicating some strong boundaries to take note of for a range trade. The pair currently sits in the lower half of the range. The jobs data on Friday could heavily influence Wall Street's sentiment, potentially determining whether the market remains overall bullish or requires even more of a corrective move. The 5200 level could be pivotal. It has previously acted as resistance and now functions as support. Even if a breakdown occurs below this level, support could be anticipated at the 5100 level or the 50-day SMA.
BLACKBULL:SPX500
by BlackBull_Markets
GBP/USD: Bearish Sentiment Persists Ahead of Easter BreakClosed the trading session before the Easter weekend, the GBP/USD pair is seen hovering around 1.2617, encapsulated within a prevailing bearish sentiment. Similar to the EUR/USD, the pair remains within an accumulation range, suggesting a possible Triangle pattern for enthusiasts of technical analysis. Notably, it is trading below both the 21 and 200 Moving Averages on the H4 timeframe, underscoring the strength of the bearish trend. Inflation in the US saw a marginal uptick to 2.5% annually in February, according to the PCE Price Index, the Federal Reserve's preferred gauge for tracking inflation. This modest increase from January's 2.4% met market expectations. Meanwhile, the index recorded a 0.3% rise from the previous month, slightly below the forecasted 0.4%. Core PCE, which excludes food and energy, also experienced a 2.8% annual increase, aligning with predictions, with a monthly uptick of 0.3%. The upward revision of January's core PCE figures signals ongoing inflationary pressures, potentially influencing the Federal Reserve to maintain higher interest rates. With upcoming employment data expected to play a crucial role in shaping future policy decisions, the timing and extent of rate adjustments remain uncertain. Considering these factors, our analysis leans towards a bearish continuation for the GBP/USD pair, with a potential downside target identified at 1.25315.
Short
by FOREXN1
3
GBP/USD Reversal Signals: Analyzing Potential Bearish MomentumAmidst early week volatility, GBP/USD initially tested 1.2650 before reversing course and closing positively on Monday. However, recent movement has brought the pair into a supply area, hinting at a possible reversal and continuation of its bearish trajectory. In the upcoming economic calendar, focus shifts to the release of Durable Goods Orders for February in the US. Forecasts predict a 1.3% rise following January's 6.2% contraction. Should the data disappoint, it may weaken the USD in the immediate aftermath. Conversely, a stronger-than-expected increase could bolster the currency. Nonetheless, the impact of this data is likely to be short-lived. Traders are closely monitoring these developments, with anticipation building for a potential bearish setup post the Durable Goods news.
Short
by FOREXN1
1
GJLet's stay watching because where price currently is (190.90) is a level to watch. We close below here, have a rejection, confirmation candles then we know we are looking to stay going down. 1hr has already given us 1 confluence, we need 3 before we enter. It is forming a second one but has not confirmed it yet. RISKY TRADE IDEA, enter the market with sells but closely monitoring the SL you place in because this move is not yet complete. I will stay watching and waiting for the perfect entry.
by Mhangwane1