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GBPUSD Short Term & Long Term Institutional Analysis *Please excuse the poor audio! What's up traders! Today I will be going over my thoughts on GBPUSD, and where I see the pair going from a short term and long term perspective. We will be considering the following: 1.) The recent Double Bottom formed on the Monthly timeframe 2.) The break of structure at a previous strong resistance zone 3.) The possible retracement/pull back to the .382 Fibonacci Level, which is in confluence with the previous strong resistance zone on the Monthly timeframe 4.) The Double Top on the Daily time frame 5.) The area we're I expect price to move, in order to fulfill enough liquidity for a larger impulse to the upside 6.) A potential short-term SHORT position and long-term LONG position.
by DADA-FX
2
GBP/USD and EUR/JPY on watch for me today.GBP/USD: • If price pushes up to and ideally just above the upper ascending trend line of our most recent piece of structure, then regardless of how it does so I'll be waiting for a convincing push back down followed by a tight flag and then I'll be looking to get short with a reduced risk entry on the break of the flag. • If price only pushes up to and ideally just above our upper rayline, then regardless of how it does so I'll be waiting for a convincing push back down below it followed by a tight flag and then I'll again be looking to get short with a reduced risk entry on the break of the flag. • If neither of these setups present themselves then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place either of these trades. EUR/JPY: • If price pushes down impulsively in a convincing manner and a subsequent tight flag forms below our previous high, then I'll be looking to get short with a reduced risk entry on the break of the flag. • If this setup doesn't present itself then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place this trade.
Short
by StewySongs
2
Is BITCOIN ready for 35K again??? As we continue to bounce from support found around the 30K level, BTCUSD finds itself with a fight against the 12hr 50 EMA to try and reclaim 35K range once more. However, the bears seem to have the upper hand at the moment and are putting up a very significant fight. If the bears do indeed succeed, they could push BTCUSD back to do 30K and perhaps all the way to 28K-26K level where we find our next support zone. On the daily chart we see RSI trying to retest the 50 level once again and find MACD still on a downward trajectory but still above our 0 line. Please don't hesitate to share your ideas or post any comments below.
COINBASE:BTCUSDShort
by jnpTrends
Deconstructing Charts: The warning signs BITCOIN gave us!!!Today we've seen BTCUSD breakdown the neckline of the head and shoulders, fallen below 50 EMA on the 12 hour timeframe, pushing the price all the way down to $28800.00. But what now? We broke below all the previous significant support levels and fell below 32K range. Are we going further down or is the dump over? Well that remains to be seen, the bears have definitely taken control at least for the short term and have their eyes on 28K-26K level. However, if the bulls are able to maintain this area around 30K, they may be able to try and push the price back up to 33K-32K level. As far as the RSI , we now are now well below the 50 level with room for a continued push down before getting to oversold range. Our MACD is now in complete bear territory and dropping. We have to see how this next candle reacts with this support level and if we are able to sustain. Tomorrow morning I'll do another analysis to review our overnight price action.
COINBASE:BTCUSDShort
by jnpTrends
EUR/JPY and GBP/USD on watch for me today.EUR/JPY: • I will not be trading this pair until the legal action surrounding the 2020 US Presidential Election has reached its conclusion, but if once it has price pushes up to and ideally just above either our trend line or our rayline, then regardless of how it does so I'll be waiting for a convincing push back down followed by a tight flag where I'll be looking for a reduced risk entry on the break of the flag. • If the flag forms a little higher than in the example to the left I'll use the rayline as a shield by hiding my stop loss above it as illustrated for extra protection. • If neither of these setups present themselves then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place either of these trades. GBP/USD: • I will not be trading this pair until the legal action surrounding the 2020 US Presidential Election has reached its conclusion, but if once it has price pushes up to and ideally just above our upper trend line, then regardless of how it does so I'll be waiting for a convincing push back down below our rayline followed by a tight flag where I'll be looking to get short with a reduced risk entry on the break of the flag. • If price only pushes up to and ideally just above our upper rayline, then once again regardless of how it does so I'll be waiting for a convincing push back down followed by a tight flag where I'll be looking for a reduced risk entry on the break of the flag. • If neither of these setups present themselves then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place either of these trades.
Short
by StewySongs
NZD/USD and GBP/USD on watch for me today.NZD/USD: • If price pushes up to and ideally just above our upper trend line and the last part of the move is corrective, then I'll be looking for a risk entry after a phase line break on either the one hour or the fifteen minute chart. • If price pushes up impulsively to and ideally just above our upper trend line, then I'll be waiting for a convincing push back down below our rayline followed by a tight flag where I'll be looking for a reduced risk entry on the break of the flag. • If price pushes up to and ideally just above our rayline, then regardless of how price does so I'll be waiting for a convincing push back down followed by a tight flag where I'll be looking for a reduced risk entry on the break of the flag. • If neither of these setups present themselves then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place any of these trades. GBP/USD: • If price pushes up to and ideally just above our upper trend line and the last part of the move is corrective, then I'll be looking for a risk entry after a phase line break on either the one hour or the fifteen minute chart. • If price pushes up impulsively to and ideally just above our upper trend line, then I'll be waiting for a convincing push back down below our rayline followed by a tight flag where I'll be looking for a reduced risk entry on the break of the flag. • If price pushes up to and ideally just above our rayline, then regardless of how price does so I'll be waiting for a convincing push back down followed by a tight flag where I'll be looking for a reduced risk entry on the break of the flag. • If none of these setups present themselves then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place any of these trades.
Short
by StewySongs
NZD/USD and EUR/NZD on watch for me today.NZD/USD: • If price pushes up to and ideally just above our rayline I'll be waiting for a convincing impulse back down below our upper trend line, where I'll be looking for a reduced risk entry on the break of a subsequent tight flag. • If price only pushes up to and ideally just above our upper trend line I'll still be happy to wait for a convincing impulse back down, where I'll again be looking for a reduced risk entry on the break of a subsequent tight flag. • If price pushes up to or above our rayline and then it impulses back down convincingly or not I'll not be looking for any entry on the break of a subsequent flag, if the flag forms either through or above either our rayline or our upper trend line or through both. • If neither of these setups present themselves then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place any of these trades. EUR//NZD: • If price pushes up impulsively to and ideally just above our rayline, then I'll be waiting for a convincing push back down followed by a tight flag where I'll be looking for a reduced risk entry on the break of the flag. • If price pushes up impulsively to and ideally just above our rayline, then I'll be waiting for a convincing push back down followed by a tight flag where I'll be looking for a reduced risk entry on the break of the flag. • If neither of these setups present themselves then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place any of these trades.
Short
by StewySongs
NZD/USD and GBP/USD on watch for me today.NZD/USD: • If price pushes up to and ideally just above our rayline I'll be waiting for a convincing impulse back down below our upper trend line, where I'll be looking for a reduced risk entry on the break of a subsequent tight flag. • If price only pushes up to and ideally just above our upper trend line I'll still be happy to wait for a convincing impulse back down, where I'll again be looking for a reduced risk entry on the break of a subsequent tight flag. • If price pushes up to or above our rayline and then it impulses back down convincingly or not I'll not be looking for any entry on the break of a subsequent flag, if the flag forms either through or above either our rayline or our upper trend line or through both. • If neither of these setups present themselves then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place any of these trades. GBP/USD: • If price impulses back down convincingly below both of our raylines I'll be waiting for a tight flag, where I'll be looking for a reduced risk entry on the break of the flag. • If price impulses back down convincingly below both of our raylines I'll be waiting for a tight flag, where I'll be looking for a reduced risk entry on the break of the flag and if the flag forms just below our lower rayline then I'll be hiding my stop loss above it for extra protection as illustrated. • If price impulses back down convincingly or not I'll not be looking for any entry on the break of a subsequent flag if the flag forms either through or above either of our raylines. • If neither of these setups present themselves then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place any of these trades.
Short
by StewySongs
4
GBP/USD and NZD/USD on watch for me today.GBP/USD: • If price impulses back down convincingly below both of our raylines I'll be waiting for a tight flag, where I'll be looking for a reduced risk entry on the break of the flag. • If price impulses back down convincingly below both of our raylines I'll be waiting for a tight flag, where I'll be looking for a reduced risk entry on the break of the flag and if the flag forms just below our lower rayline then I'll be hiding my stop loss above it for extra protection as illustrated. • If price impulses back down convincingly or not I'll not be looking for any entry on the break of a subsequent flag if the flag forms either through or above either of our raylines. • If neither of these setups present themselves then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place any of these trades. NZD/USD: • If price pushes up to and ideally just above our rayline I'll be waiting for a convincing impulse back down below our upper trend line, where I'll be looking for a reduced risk entry on the break of a subsequent tight flag. • If price only pushes up to and ideally just above our upper trend line I'll still be happy to wait for a convincing impulse back down, where I'll again be looking for a reduced risk entry on the break of a subsequent tight flag. • If price pushes up to or above our rayline and then it impulses back down convincingly or not I'll not be looking for any entry on the break of a subsequent flag, if the flag forms either through or above either our rayline or our upper trend line or through both. • If neither of these setups present themselves then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place any of these trades.
Short
by StewySongs