GBP Trend reversalThe Great British Pound is not so great anymore. Terrible numbers hammered price down and now it also broke some critical levels.
Now that 1.3730 is out of the way I’m looking for a pullback into these levels to get ready for trend contuniation (short) on different currency pairs.
I’ll link this chart to some setups we’re seeing now.
GBPUSD1! trade ideas
US Dollar strength hitting GBPUSDRecent USD strength is moving commodity currencies lower. Double top and break of the swing low could signal more losses for cable to the median line.
b6i deep correction to 1.32 then biggest last rallyb6i deep correction to 1.32 then biggest last rally
GBP_F GBPUSD. Checkpoint before ECBDraghi and ECB might be the catalyst right at the collision point in a few hours.
Cable crashed preparation ...With involved in Syria War ... I doubt if GBP could break the main trendline, prepare for GBP crashed ...
Will this 2nd failed Cable Rebound ? After the mighty dropped GBP tried to pull back and rebound to safest zone but failed and deeper crashed, will this second tryout succeed or will it become another failed pullback that can cause Cable fall deeper ???
June British Pound British Pound created a bear flag on H&S drop. Downside potential target is 1.3614 at S2. RSI still has some room for more downside. Outside chance of 1.36. As long as BP stays under the 20 day MA this should continue to drop.
British pound Future Long ideaIf it doesn't break the channel . Target = Fibonacci cluster at 1.3960 and top of the channel
GBP/USD (GBP Futures CME) Buy 1.3115 (Target 1.3420)Signal:
Buy - 1.3115
Take Profit - 1.3420
Stop Loss - 1.3000
GBP SupportThis week has been brutal for the GBP, a far greater decline that i was anticipating. However we should now of found some support with the GBP futures coming back to tag the weekly 55EMA
Good luck all
Just wondering sometimes do we hold or notSometimes, it seems impossible to reach Target 2, but if you have been trading patterns
you should have your preference to take certain amount of position at each target.
As a side note, GBP/JPY hits its 38.2%(T1), USD/CAD its 38.2%(T1) and 61.8%(T2) and a lot
more. I hope to put out more ideals but time is limited... Sorry id try to bring up more in
time to come.
Refreshment on B6Finally a pattern that got some profits. The risk to reward is attractive as well if Target 2 can be achieved.
The stop has been moved to breakeven.
Conditions unchanged for GBP/USD (B6)
Hello! Been a busy week and traded late into Fri's session. I completely skipped the early session, choosing to strike after
the market settle down from Jackson hole. I may have miss some action but completely fine as any trade i try to take
will be more of a gamble then trading.
For now, the B6 started a rally after being oversold. I've mentioned that i'm not keen to short unless it rallies. Now, i'm presented
with the opportunity. I am targeting a larger bearish Cypher pattern, and i'm looking to trade intraday with pullbacks on the
1hr chart. For that, i'm going to present another ideal tommorow before the European Session.
At times, it is quite tough to trade opposite of your planned position, which is contrary to normal day to day decision you make in
life and is normal to feel unsettled. But if you are not comfortable with contrarian ideals, skip it. Don't think about it!
Pattern intact on 6B
The Cypher pattern i was looking on B6 remains intact as it nicely stays between 121.4% to 1618.8%.
The trade ideal is the same just some updates on the chart itself.
Bearish on the pound!
The pound has bottomed last few months with a well defined high and low on a longer term basis. In the short term, there presents
a lot of shorter term opportunities. One of which is to short the near the channel high on the 4hour chart, or you can pick rallied into
short structure and you could also trade patterns. I just saw this Bearish Cypher pattern forming. I dont trade into futures on forex,
but i don't think there is any difference between spot or futures in general aspects.
I am looking to short GBP/USD when the opportunities present itself. Take note that in large range like this, i do not specifically bearish
or bullish. I'd just trade the side where it is convenient for me in terms of risk to reward and shorter term direction. Was i long previously?
Yes i was trading both long and short side. Just keep improving your analysis and somehow you will find some ideals and how to trade it.
Experiences definitely counts!
