Check the out on the Daily, huge fakeout of the channel and solid rejecting of both the key 0.87 level and 61.8% Fib area.
Will add sells once the 4hr is broken and 382% fib area to target both weekly supports, taking partials at the 1st.
In 4 hour there is a cup & handle target for 1.397
Same target is for a fibonacci level in daily chart.
So we're ready for a a final? big move.
TP 1.3976
SL 1.34 for spot, blakc trend line for FX.
As the UK comes out of lockdown and the economy re-opens I expect that the GBP strength will continue.
Next level is a 4% drop in EURO value against the GBP, 400+ pips, trading from the weekly chart.
My stop levels are large, but will still only be 1/2% risk for me. The total trade is a 2.74:1 risk reward (slightly under my minimum 3:1).
I like the feel of this...
I am bullish on the EURO since we are rallying from the mirror pattern and have now broken out from the descending channel. We are coming up against some resistance short to medium term but I expect long term we will break throught this area.
market broken structure
holding support before london session.
bottom trendline 3rd touch/bounce.
next clear level 80 pips away at a 15m resistance structure
Price has been in a descending pattern since the beginning of the year. It is only now that we can see a clear reversal pattern - ending diagonal - whilst approaching a significant level.
I'd wait for price to tag the low and give some sort of bullish momentum before considering longs.
Price has been in a descending pattern since the beginning of the year. It is only now that we can see a clear reversal pattern - ending diagonal - whilst approaching a significant level.
I'd wait for price to tag the low and give some sort of bullish momentum before considering longs.
GBPUSD has been ranging in this upwards channel since December with a bias to the south side. The top channel has just been hit and rejected price.
We have a broken up trend line on the 4hr and strong bear candlesticks as secondary confirmations. Look to enter at current price area of 1.3785-1.3850 and take profit at the bottom of the channel.
Good luck and let...
This pair has broken a strong support line on the weekly time frame and created a newer low.
Pair is overextended and RSI in strong buy zone. I do expect a retrace north back into the weekly range between 0.8800 and 0.9200.
Once we have a break and close above 0.8900 I expect price to head to the top of the weekly channel. I'd advise not buying this until this...
Hi everyone, looking at GBPTHB, we may see that GBP formed nice candle patter to the upside, also it's at 16 years low from where we should see a pullback at least to 50 fib. As brexit, covid drives markets, loots of people will seek holidays in warm countries once allowed, and as Thailand is beloved by Brits, we may see a skyrocket in the price of thb.
This...
Wedge formation with an expectation of a southside movement. USD index gaining strength.
Sell at top of channel down to the bottom of the channel. I will trade only sells as that is the main direction.
Good luck and let me know if I can help in any ways!
Charles V
CVFX Management
Trading made Simple
Jan 2021: 14%
We have an inner broken up trend line to the south side. Expect price to retest the backside to create a right tip then bounce down towards support area of 142.80.
Entry @143.85 area
TP @ 142.80
SL @ 144.25
Good luck and let me know if I can help in any ways!
Charles V
CVFX Management
Trading made Simple
Jan 2021: 14%
As this pair is currently in an overall uptrend it's only now nearing its 4th wave completion of a weekly Elliott wave. Supporting this aspect of the move, there's a 5th wave extension measured with Fibonacci levels, just under a daily imbalance zone (further magnetic pull to the downside.
You can see the basics of the Elliott move - I have highlighted it using...
EURGBP H4
Off the back of the resumed GBP strength, I feel we could see a break and close below our current support zone of 0.88300. Waiting for this closure is important, a clear break and close below followed by a subsequent retest and resisted price at 0.88400 could set us up for potential shorts.
