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Sterling

Another ascending triangle?PERSONAL PREFERENCE ONLY DO NOT FOLLOW OR COPY IF YOU DID FOLLOW PLEASE DO IT UNDER PROPER RISK MANAGEMENT I DO NOT AND WILL NOT TAKE ANY RESPONSIBILITIES A perfect ascending triangle has happened last week which lead to a 80 pips profit and is this going to happen once again this week? Although last bullish trendline is broken but currently there might be another ascending triangle forming and if 1.3007 does break, the next 2 significant levels are 1.306 and 1.3115 but 1.3115 are above H4 200MA so suggested TP level is 1.306 but there are also chances that the bear will continue if the 1.30070 level are tough enough and lead another sell off of pound Uncertainty of Sterling is only building up as there seems to be another Coronavirus wave coming and also Brexit are making sterling pairs become difficult to analysis as no one really know what will actually happen after Brexit. And if the bullish trendline does break again, there are 3 significant levels which can be used as support : 1.279 1.265 1.2475 PERSONAL PREFERENCE ONLY DO NOT FOLLOW OR COPY IF YOU DID FOLLOW PLEASE DO IT UNDER PROPER RISK MANAGEMENT I DO NOT AND WILL NOT TAKE ANY RESPONSIBILITIES
by Esteiknarf
GBPJPY . Bears Bulls both want Ace OANDA:GBPJPY Bears and Bulls both want Ace. 1K or more pips. The hunger, the greed, the odds, the charts, the uncertainty, the sharks in the water. They'll risk it. Little known fact, bears and bulls are good swimmers and sharks can't walk. Pound Yen. Guppy? Is this guppy? Pound Yen. Looks bullish to me cause life sounds like hell in Britain right now but hey gotta do what ya gotta do for the flu thing, don't hate me, that's why they're doing it. Right? Check the new. Brexit hell, but they're making deals right? Bojo just doesn't care. I trust that. Don't trust me. Why am I bullish on the Yen?!! Is it cause banks like LYG are at all time lows? How low can British banks go? Is that the only stinker? I should do some research. I'm bullish but I'll short. Sure i'll i do it. Why not? Either way, whoever is right on this, is gonna make an ace of pips. I hope it's you! And me. We'll see.... tbc...
by allthemoneys
1
ridethepig | GBPA timely update to the cable chart after an annihilation last week... 📍 Taking back control (of support) If we take a closer look at the breakdown we can see that above all it is directed at a lack of confidence in building UK exposure against a no-deal backdrop. What is perhaps even more crucial is the conception of 'track and trace' which is of course difficult to argue against, however if liberty is lost then confidence will follow! If we take into account that the short-term damage from Brexit will relatively speaking demand action from BOE with front loaded cuts and another QE bazooka then sharp speculators can come together and understand the hyper devaluation of Sterling; classical monetary plays to offset the reduction in market access. Euro seemed to lead the way on the leg higher and sterling seems to be leading the legs lower in G10 FX because of its high beta. The 1.35xx highs were rejected in fantastic style; and since the entire scaffolding for the leg higher since July has been reversed. Here eyeballing a move back towards 1.225x and 1.207x, possible extensions towards March lows and $1.10 with no-deal this year. As usual thanks for keeping the feedback coming 👍 or 👎
Short
by ridethepig
7