I don't usually trade Elliott Wave but this setup jumped off the chart and slapped me in the face while looking for reasons to go long GBPUSD. 15th August saw the beginning of the 1st wave with a double bottom at post-Brexit lows. To kick off leg 2, on Thursday 1st Septmeber UK PMI Manufacturing came out at 53.3, above the projected 49 and far exceeding July's...
I closed 2 short positions and I still have 1 left. When price reaches this area, it's time to make a decision to buy or sell more. Follow your trading and money management rules please. Share your thoughts, ideas and feel free to ask questions.
GBPUSD Long from now! Dont ask me how, just trade it!
Last week, Yellen stated that positive US reports have opened up the idea of a rate hike in September and we will need to see more positive US reports for the rate hike to be confirmed. This acted as a huge catalyst on Friday allowing the US Dollar to break TL on most pairs. As it stands the Dollar is looking bullish with investors waiting for US reports to...
Happy weekend traders! Sterling slump after BOE easing monetary measures which sent the market down more than 200 pips followed by some positive job numbers yesterday with NFP adding fuel to the fire. Technical see resistance level at 1.3050-60 zone where as long as market holding below this zone more drop will be expected toward 1.2900 levels Above 1.3210...
GBPUSD trying to go bull.. If go up, target is 1.31400 or maybe higer 1.31550
Daily - We can clearly see a descending broadening wedge, which makes this pair Bullish in long term, however I would like to see this pair hit the bottom of the wedge before it heads up, if we do break the blue trend line, its a safe to say to sell after a small consolidation, if we don't then we shall continue heading up. 4hr - The 4hr time frame also shows a...
Just a little food for thought... 4HR cypher pattern hidden behind a blatant H&S pattern. Any takers?
Hey Traders, I'd really like to know what any Faders think about about this chart. July 2016: Lowest Low Recorded Ever. What do you think is next based on your experience and expertise. All opinions are welcome!
Pivot: 1.3235 Most Likely Scenario: short positions below 1.3235 with targets @ 1.3100 & 1.3045 in extension. Alternative scenario: above 1.3235 look for further upside with 1.3330 & 1.3425 as targets. Comment: the upward potential is likely to be limited by the resistance at 1.3235.
Overview: The Gold markets rally during the course of the session on Friday, touching the $1350 level. At this point in time, Gold sentiment is bullish and market is ready to go higher, as buyers are still interested in the market. The main trend of Gold is bullish on charts and and market is sustaining above the 100 days moving average on its 4 hourly chart. It...
Pivot: 1.4430 Most Likely Scenario: long positions above 1.4430 with targets @ 1.4650 & 1.4700 in extension. Alternative scenario: below 1.4430 look for further downside with 1.4350 & 1.4300 as targets. Comment: the RSI shows upside momentum.
Pivot: 1.4190 Most Likely Scenario: long positions above 1.4190 with targets @ 1.4295 & 1.4325 in extension. Alternative scenario: below 1.4190 look for further downside with 1.4140 & 1.4090 as targets. Comment: the RSI shows upside momentum.
What type of a correction is in progress? Too early to conclude. But there is high probability for an impulse wave down to reach the bottom of the corrective structure. Then I am rooting for the correction to continue further. If price reaches this bottom structure, we will know by then if price wants to break out to the down side or turn back up for an...
GBPUSD: Daily Chart It is the 3rd wave (3-3), So it can trade with easily set up. Buy anywhere with cool RR.
PLAN Next week Watch out this price if it can break TL and go down It will end the impulse uptrend and going to downtrend. I will wait for break TL (Buy1) and, maybe, it will TB to meet TL again (Buy2).