GBPCHF LongClassic bull flag in progress after a major rally early in the week. With BoE on tap and CHF overstretched, GBPCHF should continue upwards.
Sterling
GBPUSD can't rise despite weaker dollarSterling is not rising despite the weakness in dollar on the back of weaker jobs report. Technically, price is testing a uptrend line it broke. also .618 fib level of a recent bearish swing as well as horizontal structure where the bearish dump began. therefore a short trade seem like a high probability trade.
Dan
Im going short on GBPCAd as well as other GBP pairs!I am a strong seller on the GBPCAD today as well as other GBP pairs. The GBP has clearly shown no sign of recovery in the near future. Im selling this one. Check out my analysis and I would love your feedback. Happy trading
GBPUSD two-way planThe No-Deal Brexit jitters potentially pressure the Sterling in mid-term. I am picking two directions within a general GBPUSD mid-term bearish bias.
Left Hand Side Chart is H4 Timeframe. Right Hand Side Chart is H1 Timeframe
For Plan A : I am marking yesterday's daily pivot + 1.29000 price and I want to see how the market will react upon reaching it. A bearish engulfing candle in H1 timeframe will trigger me to short the GBPUSD. Target will be as illustrated by the arrow.
For Plan B : If the price test today's daily pivot and see a strong bullish reaction from it, I will be LONG and target will be as illustrated by the arrow.
If you like the write-up please give me a follow, If you agree with this trading plan please hit the Agree Button. If you disagree, post a comment down. Thank you for readinG!
Shorting GBPUSD Trading IdeaI am expecting the Brexit No Deal issue will sooner or later pressure the sterling and also the issue about renewing Carney "reign" at the BOE. Technically, I believe GBPUSD is in a downtrend. I will short GBPUSD if I see a Bearish Engulfing Candle or Dark Cloud cover in one of these levels I've marked with red arrows. Target(s) are based on the average daily projection low (85 pips)
GBP/USD in no man's land. Roadmap for the following week!Here is our roadmap for starting another trading week strong. So, after hitting our first profit target on the buy last Thursday, GBP/USD has failed to develop stronger bullish momentum and finished the week in no man's land. We have set the consolidation box for the pair with bottom around 1.28000 and the top around 1.28800 price level where the price should decide about the further direction. For now we have short-term bearish momentum with highs connected to the Bearish trendline and longer term bullish momentum with lows connected to the Bullish Trendline. Any touch or break of these trendlines can give us a nice opportunity to trade so keep an eye on that, and of course wait for the price action confluence before entering the Trade. For now we are favoring shorts on this pair and further development of downside movement but nothing is confirmed at this point. Wish you a happy trading week! #wolfpack
GBP/USD Bullish momentum going for 1.30000GBP/USD has been taken over by the bulls after days and days of falling. We are now in momentum with potential to reach 1.3000 resistance. Today Sterling has been falling from the first hour and we belive it's pullback before continuing to the upside, buying off the Fibonaci retracement line 38.2% which is 1.2860 area. We have to be careful about brexit news and other data unexpecidly coming out but besides that we should be good with going long. Be patient with your entries guys and happy trading! #Wolfpack
GBPUSD picking up, catching the pullback!Well well, thats quite a jump in one hour don't you think? USD data came out today without any huge surprises, and now we are seeing cable jumping up. Is this the start of the bullish momentum? I still belive to see 1.2670 price before it but on the other hand It could be bulls takeover, but it's not happening without the pullback, and that's where we come to play. We see the zone from 1.2752-1.2770 very attracive for shorts. Tomorrow there's another high impact data coming out for the dollar (Michigan Consumer Sentiment Index) which will probably be the fuel for the movement. We need to see right reversal price action in our sell zone and we should be fine to reach our profits! Happy pip hunting everyone!
GBPJPY : Anticipating two movesThe projected monthly range low had been exceeded. My belief in the market is that price should "normalize" and goes back inside the range (Banks profit taking). The monthly range has been hit and exceeded and also the weekly range was hit (set default bias = retracement/reversal bias). Currently, I am setting a bullish bias for this pair and it will remain true until bearish confirmation pattern triggers. Due to this, I am anticipating two scenarios
Scenario A : Price I would to execute my current Bullish bias @ 140.750-140.800 (the lower the better, cheaper price). A Double bottom, engulfing candle, piercing candle etc will be the entry signal. Target is as illustrated on the chart
Scenario B : A failure at 141.00-141.100 confirmed by a double top/engulfing candle, piercing candle at M15 (always look at H4 as well). Target illustrated on the chart.
*Trade Setup should satisfy a minimum 2:1 Reward Risk Ratio.
*Risk 1.5% Per Trade, 4.5% Maximum for the entire day (multiple trades at a time)
If you like my writeup, idea, my chart or even curious if the trade idea completes, then give me a follow. Thank you for reading and following
GBPUSD weekly RSI hits oversold - 1st signs of a bottomGBPUSD is in a solid downtrend and short term trades should still focus to the downside
However, support from 1.265 and a weekly oversold condition could mean the market is ready to bottom out
GBPUSDHi my friends,
This is our new pound trade,hope be successful at the end.
First of all this trade must start after first reversal in RSI Daily and when RSI can break line i draw in 4H.See charts bellow:
If it can't achieve,we will drop from channel to test yellow box bellow ,as support.See chart bellow:
I will update this idea and notify new signals.Do not enter trade in risky way.
Good Luck
GBPJPY Short ContinuyesGBPJPY continues the downward move after breaking below the trendline support that held up twice before, the next test looks to be the previous swing lows
143.769
143.195
Today we've bounced off the first level at 143.769 so far getting as low as 143.811 (pretty darn close). Notice that both of these previous swing lows brought multiday rally's so the risk at these levels looks to increase. However, much like the trendline break over the weekend, these support levels tend to have a bunch of stops sitting right around those levels and could be fuel for a more accelerated drop.
Either way, I've moved my stop down to breakeven at 146.805 and added a bit more to this short position at 144.050
GBPUSD Buying opportunityIf I see a set-up, I'm gonna pull the trigger but not walking away for so long.
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GBPAUD potential bear flagNice little bear flag forming on this pair here. With the Aussie maintaining it's poise in the face of a hawkish FOMC and falling commodities, the dovish BoE will drive the pound down which I believe will be the catalyst for this flag breaking out nicely.
Good luck!
GBP/JPY Confined In A Wedge/Flag. Potential Breakout On Horizon?Just like its parents pair (GBPUSD), The pound is just consolidating at the moment and a potential break to the upside is on the cards!. What is preventing the breakout at the moment is that the price is confined in wedge. To add to the list of confluence factors a flag has also been formed and the violation of the upper trend line would see a GBP push to the upside.
The above daily GBPJPY chart represents the price being confined in a range!. A potential break to the upside would also break the dynamic resistance of 50 EMA in the process.
The above monthly chart represent the potential resistance that this particular pair may face after the breakout. Furthermore, this could be our TP level as well. The risk reward ratio on this is pretty good as well. It remains to be seen what happens in the near future and what GBP related pair could give us more feasible or excellent risk to reward ratio.
Any Signals will related to this post would be posted under this thread. If you like my analysis please help me with a LIKE and FOLLOW me for more future ideas and signals.
GBPNZD ShortAs can be seen from the chart, the old uptrend was broken, retested, and rejected. The pair will continue to fall within the downtrend. We may seem some spikes here and there on news but overall, I believe it will be a slow bleed down.
GBPUSD- 'Not Long Left'The new low formed at the end of last week failed to break the previous low but has held at the same 1.3080 daily support region. This can be taken as the neckline of our potential head and shoulders formation. Moving averages have been holding price down nicely but the last H4 candle has broken the first level of resistance as price headed towards the 1.3150 upside target to form the right shoulder in the formation. Moving averages now look to be crossing over to the upside. This would usually signal buys but as we approach the 1.3160 region we should be weary of reversals. Price may extend as high as 1.3200 but unless we close above that region we remain bearish overall on this pair given the bearish sentiment from the higher timeframes.
GBPAUD - ShortBears are looking to pull GBPAUD into the orange box area.
Some nice pips to be made here. Be sure to always keep an eye on the price action on smaller time frames (30, 15) to ensure the market doesn't go against you whilst unprepared to adapt your plan.
