This is my forecast on the dollar following the market structure that has been printed on the 4H timeframe.
Bitcoin, the digital money has maintained a range between $28,900 and $31,000 since late June. Despite this range zooming out on the D1 chart we can see that Bitcoin is still maintaining a strong bullish structure and this structure has not faced much threats to the downside. Bitcoin has bounced off the S1 pivot support(@ 28,800). Could this be the move that will...
GBPUSD has been seeing a lot of steady declines this week and I expect to see continue based on the inflationary concerns in the US. Although we could be expecting a santa rally this year....
This is the update on the last DXY trade I entered, I still expect further downside on the DXY due to Fundamental concerns, if you check the Pivot levels, this is just the best place for a re-entry.
Further downside is expected for the DXY(dollar Index), following fundamental turmoil and breakout from the support level earlier today.
Even after the recovery from DXY in the close of the previous if we watch closely the Cable is still yet to follow this, expecting further movements down from this resistance point.
Further downside expected on the GBPUSD as CPI data draws closer
Looking at the drop following some fundamentals of the mid term elections, covid policies and the rest. More downside expected for the GBPUSD on a stronger Dollar
GBPUSD TRADE IDEA FOR TODAY, following the trend and fundamentals.
This week we have already hit two position at stop, we are still maintaining our bias cos the structure is still in place and not broken, remember to use proper risk management always and proper trade practices, don't increase or reduce position risk due to previous losses. The key to profitable trading is having good expectancy.
Since we still have price around the channel we can take another entry here.
If you carefully look at DXY() in the chart you will see that price is heading for another unstoppable bull run this week. Investors and traders alike have lost interest in the pound and other currency, hailing safe haven currencies. This is obviously due to the uncertainties currently on going(Ukraine - Russia), energy crisis and the likes. I see further...
Our two setup on GBPUSD failed yesterday(GMT+1), we have price here at yet another pivot resistance, we can short from here.. Avoid this pair if you have a small account, obviously the scaling has changed and 100pips happens to easily, so careful with calculating your risk too even on a big account size.
From this We have that the analysis entered the fail safe zoom and passed.. Set SELL STOP ORDERS just below the R1(1.102).
GBPUSD TRADE IDEA (This is our trigger entry-we have been watching this level since the beginning of this week). We will use R1 as our fail safe level for a second entry if the current level fails.
GBPUSD TRADE Idea, we an see the spike today more correction expected.
GBPUSD Trade Idea, a short 200pips needed to complete the structure for the downtrend in GBPUSD.
BTCUSDT OUTLOOK with Elliot wave 5-3 pattern calculated with Fibonacci numbers, where all retracement have touch 38.2 level.