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
GU1! trade ideas
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!
Pound/USD watch out for side ways and down trend break out.It has broken out the huge down trend nicely, I am going to sit my position on long side now.
However, by have low risk (cuts) I will be cusious on potential side way market.
Have a great day people~!
Bullish GBPWith what feels like constant negativity surrounding the UK and the GBP in general, it's easy to get caught up in the doom and gloom, so i like to refer back to the 6B from time to time which imo screams a buy the dip mentality in the GBP. Last months retest of the trend line and subsequent hammer reversal only enhances this sentiment and i think alot of the GBP pairs are getting close to a turning point for the next leg higher. Choose your levels and ride this pony.
Appreciate any thoughts and/or ideas
GBP: Wyckoff phase E mark-up has startedFollowing a Wyckoff evaluation of accumulation the Pound has undergone accumulation setting the cause for the mark-up in phase E.
GBPUSD long setupsWe're midstream on this range at the moment. Breakout over 1.30 would signal move to 1.3350-1.35 area. Alternatively, retest of 1.27 offers opportunity to go long at greater risk/reward. Close below 1.27 would negate view.
B6 FutureThis is one is running for a few weeks now. As long as the commercials are in the long hold position, this will run smoothly.
GBP Index Ideait looks like Tiangle not completed yet.. we mey have good short from the current levels for Pounds pairs
G6 FUTURES/GBPUSD Ascending Wedge Short Setup As we can see, price created ascending wedge short setup, there is also SOT formation which informing us that buyers are getting weak.. at 12 it was a large volume on the market so it was a signal that smart money are getting off and distribution is coming.. Sell a break of bottom trendline. I am expecting price will drop to first demand level around 1.2360 or 1.23250 on forex. Good Luck
BRITISH POUND index continue lowyar to finish wava 5 .Take care and good luck.
Thank you for your support
March British Pound creating a bullish ButterflyMarch British Pound is trying to create a bullish Butterfly pattern. Position BC still to be determined in the next week, then possible sell back to 1.1956. Gann Fan deterioration is developing here and 4/1 line could be support for retreat downwards if USD strengthens. False break out over the 20 day moving average is also possible if this market reaches 61.8 retracement of the BC leg.
