Workhorse is slowly retracing after printing its ATH back at the start of Feb 2021 for $42.93.
We are currently sitting at the midpoint of the ascending channel at around $34 .
Looking at the speed of the WKHS rise I would like to see a retrace back down to the box marked on the chart, with confluences at the 0.618 Fib , 200EMA and Volume profile and the...
Looking to realise this full correction down to 1.37400, probably something we focus on next week as opposed to this week.
Been a while since we saw a cable pullback, so this will be good for us to look to position ourselves in line with potential GBP longs again.
Our 0.91450 region held as support, even factoring in the big downside market gaps. Soon recovered just like we did on the 31st January market open too.
Same trading zones to be followed this week with this trading pair. Clear support/resistance trading range from 0.91450 to 0.92250.
Super clear bullish trend seen on GCHF, looking for a pullback to the intersection price highlighted. This would also tie in quite nicely with GBPJPY analysis, very similar moving pairs which we have been waiting for, for the last couple of days, even dating back to late last week infact.
Quite a way from realising a support test, but nonetheless, something we definitely want to follow going forward, this pair, alongside GBPCHF has held really nicely and trading fluently between zones and setting new highs etc along the way.
Waiting patiently for that 145.000 whole number support to see a test, nice intersection price here, strong...
Another setup to compliment EUR shorts, eastern pairs are on fire at the moment, NZD and AUD. Possible pullback to retest the underside of the structure break before selling off further.
1.56 whole number support is now being used as resistance. Down-trending nicely. Something we could possibly scout out, EURAUD also dipping downside.
We are evidently seeing the USD see a little bit of weakness, but can we hold support on USDCAD lows until we can gear up for some strength/corrective moves.
Very similar to what we were expecting from USDCHF, but USDCHF seems to be breaking support now after trying to hold for so long. CAD losing a little bit of ground early doors as we see WTI drop...
Finally woken up after a couple of days on consolidation from support. Always going on about focussing on less pairs but focussing more on what you've got your eye on. This way you understand what has influenced the pair recently to date. Fingers crossed this is a sizeable move to follow.
EUCHF below 1.08, not sure how long this will last though,...
After a 50 pip winning trade earlier on this week our script has just alerted us to this sell trade.
We all know this pair is well over bought this week but when was the time to enter that sell? When our script tells us too!
Trading our script is this simple. No excessive chart time analysing! Simply set the script to your style and trade when...
The entry price, SL and multiple TPs are shown on the chart. Please use your own risk management plan.
Our back testing and money management strategy itself is holding until a reverse signal to ride a big trend, but as you will not see the next signal - manage the trade as you wish should you decide to enter.
Not found that crystal ball that everyone else...
GBPUSD H4 -
We are still trying to break above that 1.37 handle, USD weakness again as we crack beneath the latest s/r zone on the DXY. Analysis to follow.
1.37 is the latest breakout high... as well as a whole number resistance price. From 1.37 down to 1.36 offer 1:5R, looking to capitalise on this if we approach 1.37 with reversal signals, lower timeframe...
EURGBP D1 - Big daily reversal signal required first, this may even be one we have to wait for until next week, today may find support, tomorrow might be the bull signal and then we can look to get involved. 0.89 support is a fairly substantial daily support/demand zone.
EURJPY H4 - Euro has seen some quite significant weakness so far this week, pulling downside back within our range box consolidation areas.
It would be good to see a two stage reversal on support. Buying from support would compliment out first rule. 2 stage reversal would be a perfect confirmation after such a sequential bearish trend too.
DXY H4 - Downside market gap for DXY, as per our weekly watchlist... we are looking to set fresh lows very early on. GU popping higher and gold also seemingly on a mission. Lots to keep an eye out for this week and next week, confirming our consensus basically. USD weakness, GBP strength, on the fence with EUR at the moment.
EURAUD D1 - Support to resistance range is back in play, support has been adjusted slightly after last weeks downside attempt, broke back above 1.61, rejected that monthly key level at 1.62, retesting 1.61 support zone again, could be a good area to catch bid if this support holds.
GBPJPY H4 - Absolutely slammed 200-300 pips downside on most GBP pairs, following each support zone, one zone at a time, not trying to catch the bottom of the move. Personally sitting on the sideline until new year. But same principle and trading system applies. Follow the zones until you can react.