Hello Traders, Here we have 3 Wolfe Wave's(WW) WW #1 - In the grey dotted line. This WW is near it's target at #1 Geo Off-Set Rule at point 4. The Geo Off-Set Rule here plays a role in the next 2 WW's. WW #2 - In blue dashed lines. This WW is internal to both the first and third(in purple) WW's. The Geo Off-Set Rule in the first WW act's as a point of reversal...
Quite a late entry into a daily bat pattern, which we could gain a few pips on nonetheless. Even if it does stop out we still have a potential movement into a large cypher pattern which could provide a large number of pips.
CD leg with a 1:1 ratio with the XA leg falls into the blue region shown on the graph (which is also a confluence of the 0.786 retracement and 1.272 extension, so will look for this as an entry point . Stop loss is based on previous structure support as shown by the horizontal red line. Not only is this a nice Gartely, but we also have the entrance point on...
Falling wedge with 5 hit points, approaching a 6th and final one for a strong breakout. Excellent previous structure support (indicated by the horizontal black line) asking for a rebound into the upside. I think that this falling wedge will accentuate the rebound off the support line. Major bullish divergence on the RSI occurring in the oversold region. ...
Falling wedge with 6 hits (currently). Looking for a 7th hit and will be watching closely for a breakout on the 8th. The length of this wedge suggest to me that there could be a strong breakout.
GBPUSD sits on a long-term support line, projected at 1.4850 from minimum levels of 08.Jul and 04.Sep. 1.4850 is additionally confirmed at weekly timeframe by descending trendline from 2008. Test and rebound from 1.4850 could be used for entering mid-term long positions targeting 1.5180/1.5200 area.
I. GBPUSD has tested weekly support from 2008 highs. II. On 4-hour timeframe GBPUSD has tested and bounced twice from dynamic support created by connecting minimum levels from 08.Jul and 04.Sep, 1.5330 and 1.5163, accordingly. III. Hourly timeframe confirms 1.4910 support level and signal line 1.4970. Close above 1.4970 would confirm GBPUSD rebound from...
If you missed the last upward move, maybe it is wise to wait for a sell setup. Price retraces near the weekly trendline, right onto fibonacci retracement & extension.
As you can see, GBP/USD bounced off the uptrend line AND the bollinger band's bottom. I believe that we will test the middle of the bollinger band next week, which is around 1.5650 right now.
After the run up we saw in this pair yesterday, we are seeing a pull back or consolidation which is natural. Im expecting price to retrace atleast back to the green trendline with an expected target of around .7160
Attached to this is the before image shot + the analysis n the rationale behind it. Price just reached its target now, banking in over 250+ pips in profit! Should price keep falling the CS levels are the ones to watch
Another trade that I'm currently in. This trade is based off the risk-aversion fear that is currently exists right now due to everything related to Greece and the Euro which is playing out across most equities indexes in general. As always, as long as the green trendline holds, I'm expecting further selling pressure and the downtrend to continue. My target is at...
Again I'm a little late posting this trade because I was abit busy doing other things but I am already in trade few hours ago. The rationale is very similar to my GBPUSD Short play on the daily but this is broken down on the intraday level. I am aware alot of people were either long or bullish biased but I knew the uptrend momentum has already faded as explained...
I'm in this trade as of couple of weeks ago and it is along the lines of the other GBP pair analysis that I have posted here. This carry through momentum of both GBP strength and relative JPY weakness across the board is definitely flowing through to this pair. Again as long as the Green trend-line holds, I remain bullish with a potential target of around 2.1500
The monthly chart is clearly showing an uptrend that has reversed from years of decline. The weekly is showing this in much clearer detail. As of now price sits at the resistance area from the rally from the start of the year. Should price consolidate from here and then push higher breaking the thing yellow box, I am expecting a price target of around 2.1300. On...
On the daily chart GBPJPY closed previous day with an indecision candle which gives us a sign on the break out of that candle to go short