I've been glued to the GBP pairs this week with so much potential in them and catching a crazy amount of pips!
However, my premium group just took a short trade on this pair as a bearish pattern has been formed.
Trade safe and good luck!
Markets have approached and retested off well respected daily trend line + RSI showing oversold on 4hr, potential long to around 111.6. DXY has followed analysis posted yesterday and is now on the rise which adds confluence.
For those that follow me... I have been heavily trading USDCAD on the buy side recently. Intraday and swing trade entries have been showing up but the lower timeframes have been choppy.
Here is what I believe to be a solid swing trade set up based off the daily timeframe. With a conservative 60 pip stop loss and target profit at previous daily/weekly highs, there...
GBPUSD currently trading in an uptrend on the daily timeframe.
Support at the 0.618% weekly fibonacci retracement level.
Support at EMA 200 & 50 on the daily timeframe.
GBP currently showing as weak while USD appearing strong, indicating a possible change in momentum.
Ideal entry would be at 1.30600 technical support.
As brexit discussions are still in play,...
There could be serious trouble just around the corner for the S&P500 and Wall Street. Just don't be an 'April Fool*'. Watch the video.
*April fool is figurative language. I'm not describing anybody on Tradingview, or anywhere else.
Just for fun. Bulls currently need to hold daily close above 20 MA. Good thing price above 100MA this time maybe, and I don't really want to see a red bar in my custom MACD (6,13,close,31) histogram not shown - see other chart postings. Williams %R is done on volume and set to log. Doesn't always show up like that - could be a bug causing it. NOT ADVICE....
You don't need to be Einstein to see how strong of a level this is, but just in case you are brain dead we have pointed it out with lovely purple arrows ;p
This level has been used as strong resistance and now price is coming back down to test this as support, we can see a bounce and a bullish run coming, and we think it will be a very angry bull... so run for...
Getting long USDCAD after last nights large selloff in USD held at up trending support line in blue on our chart on tradingview. Pair sold off to 1.3250 area before being brought back up to the current resistance zone around 1.3320 to 1.3350. Looking for USD to break out of this and move higher targetting 1.35 area on USDCAD over the coming...
BREAK AND RETEST
1.WAIT for a 4hr close below a support zone .
2.WAIT for retest back into or close enough to the zone .
3.Wait for some sort of rejection on the 30min or hourly.
4. Wait for price confirmation
The trend is your friend, it makes no sense to trade against it. my analysis is done according to momentum.
stops should be adjusted...