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GBPUSD - Purple War Zone!Hello everyone, if you like the idea, do not forget to support with a like and follow. As per my last analysis (below), GBPUSD rejected our upper brown trendline and traded lower. Now GBPUSD is approaching a strong support zone. The lower highlighted purple circle is a strong area to look for buy setups as it is the intersection of the blue support (1.29-1.3) and brown trendline. (acting as non-horizontal support) As per my trading style: As GBPUSD approaches the lower purple circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break, and so on...) Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
Long
by TheSignalyst
6
Has the decline on EURUSD started?Yesterday we looked at our sell zone, and now we can already see price rejecting it. The move isn't confirmed yet and we have a push back up after each drop. Technically, we see a rejection of the sell zone and price heading to its first support at 1,1290. In order for this move to continue, we shouldn't see market going above 1,1400. We will have a confirmed downside move on a breakout and re-test of 1,1290. Until then, all positions are still considered risky so use a smaller lot size and make sure to move your SL!
Short
by ForexTrendline
34
Wish bag holders this our week, let us all unite!1. Wish showing some stability around $2.50 2. Possible short covering to make up for losses in other positions by the shorts acting as a floor 3. Possible bottom since the company is trading close to 0.8-1 expected sales for 2022 & possible break-even by the first Q 4. CEO must be announced upcoming week or the next 5. Technicals looking good with multiple divergences 6. Still waiting for institutions positions update 7. Beginning to see some improvements on the platform , shipping times getting better. 8. Interest rate hikes (problem if wish wants to raise more money) BUT has no debt and looking to break even. 9. If there is a buyout i would expect at least at 3-4x sales meaning $8-$10 10. Hold your bags tight! we are all in this together! Do not let wallstreet steal your stocks. Worst case we are all wrong! it happens, we will study what we did wrong learn from it and move on! investing does not end with one bad decision there is always room for improvement, never give up! Best case the price will tell!
WLong
by Philoslother
8