GBPUSD is in a down trend and is making consistent losses at the open of the London session. There aren't any major support lines until 1.6735 so trend can be expected to continue for the short term. If I'm up early monday morning and the market has just been ranging will be going short right before the London session opens. Using custom pivot points for stop...
GBPUSD hitting resistance at bottom of upwards trend, going long.
Following 2 green days and the overall market strength; I still see room for continuation. I will be watching for a gap up or strong open to break the $ 1.16 - $ 1.20 area. If it holds above $ 1.20 after a test for support on strong volume; I think we see a push for a gap fill to the $ 2.00 area.
Following the breakout on news today I will be watching for a gap up or strong open that breaks the previous resistance level of 7.91 and through 8.00. This is provided that it holds above 8.00( I would like to see a break and retest of 8.00 ideally due to shorts targeting the stock for an over and under 8.00 or any strong opening move) If we squeeze shorts and...
After a long run , there is a pull back since Jan 2014. the down trend is broken and it is a good opportunity to go long, with a nice continuation pattern. The entry point can be one of the Fibo retracement levels, and can be done in 2- 3 stages.
Current price action seems to be following the slope of this modified Schiff Median Line set. Has it found support yet? I don't think so, as the potential buyers would have a problem with placing their stops here, so I expect a further decline. The CHF continues to be very weak and its momentum is now flagging. The JPY is doing quite well, it is strong and gaining...
GBPCHF Price has been in a W-uptrend quite some time now. It recently respected W S&R and started a new daily uptrend (last couple of weeks). A few days ago we broke a triple tapped daily trendline. The Trade: Following our earlier projection, we now have a nice confirmation candle*, closing higher then the previous bear candle. This is an ideal spot to take...