Here we have a massive bat pattern which has finally completed. We also can see a downward sloping channel where price may be reacting off of support.
Potential Buy Zone in $GBPNZD as this pair is reaching the 61.8 Fib retracement level and in the process completing an AB=CD pattern near 2.16. 1. Structure (GAP) 2. Fibonacci - 61.8 Fib 3. AB=CD pattern 4, RSI - Near oversold (daily) Potential Target Zone - 2.25. Tomer, The MarketZone Follow me on TradingView Subscribe to my newsletters - goo.gl Follow my...
Unlike $EURUSD (see link below), $GBPUSD was extremely weak last week after being rejected by the 1.54-1.55 weekly resistance zone. The Cable didn't even stop near 1.535 that should have acted as support with daily structure and its 200 SMA line (daily) and it continued lower, closing the week below 1.52. Now, finally $GBPUSD...
I'm expecting a falling wedge for the bottom. Or at least a consolidation channel. Happy new year! ____________________________ SUBSCRIBE to my TRADE SIGNALS with 15 DAYS of FREE TRIAL. Suitable for all traders. Please, contact me via Private Message, Email (insidemarketfx@gmail.com) & Skype (@insidemarket168)
Dollar and pound remain evenly matched and have been more or less consolidating over the last 6 or so years. Something has to to give. I anticipate cable to continue consolidating over the course of 2016 providing opportunities for those more accustomed to range trading. I prefer trending markets and will look to pick up the pound around the 1.45/46 area as it...
Cable is at a important support @ 1.49. If it is to go further down (which is likely), Bull will wait to put a fight @ 1.482x to 1.485x region.. Once the rate hike frenzy is over and if the pair is to hold 1.49x strongly, we shall see it visit 1.50 again.. Wave Analysis: Down PA: Down I am netural for now//
Pair fell significantly during the Monday session. Test levels of 1.5220 and start little impulse downside which informed us we can take some short trades. In next hours we expect big decline of 50 pips at least. On blue trend line price will be supported as well, but not for long. Our first target is over 1.4960, when price reach levels probably we will close...
Hey traders we just had the inflation & interest rate news come out for the GBP pairs and the reaction is sending price action down to a potential advanced pattern completing at 1.5269's. i like to give 15 minutes for news to play itself out and afterwards I'm allowed to continue my trading Also as a reminder tomorrow is also a big news day as we have the month...
If price closes underneath the combination of support, traders will search out The U.S. dollar’s upward momentum quickly faded, following Wednesday’s FOMC minutes which suggested a December rate hike was “back on the table.” Traders were likely booking profits after the spike higher in the dollar index, which has caused dollar pair counterparts to advance into...
Last week saw a net win for the Cable of 130 pips, mainly due to a strong rally on Wednesday fueled by solid UK employment numbers with average earnings at 3% and the unemployment rate at 5.4%, a 7-year low . This strengthened the Pound while bad US retail and ppi data weakened the Dollar. Not all data was good for the Pound last week, as the latest cpi numbers...
Awating for the US data, GBP is moving between 0.382 and 0.618 levels of this huge downtrend pitchfork. Below this level, the 1.50900 major support area (May 04/05) might be considered as a good target if the US data is better than expected. If the data will be much higher than the expected, 1.272 fibo level (1.49857) should be the next target (where...
I have highlighted daily support areas which are confluent with Fibonacci levels. I lean towards the Bearish side, however I would not discount the Bullish targets on screen, especially with announcements from the US today. The bullish or bearish move will depend largely on price action and candlestick confirmation for me. Another reason for leaning to the...
Position R:R etc is in the trade idea. After 50% of the movement towards my goal the stop is set at break-even.
Hello , it has been sometime since i posted something but this is something worth noticing. Cable have completed a Head and Shoulders pattern followed by a pull back to the upside. I do foresee the pair returning to the psychological barrier at 1.55 before heading lower as the long term trend is still down. My targets are at 1.50000 and 1.47000. Short and...
The Cable dropped 240 pips last week and over 600 pips (!) the last 9 days without any fundamental reason I can find related to the UK economy or BoE, apart from some purchasing managers' indices missing their expectation. Last Wednesday the US ADP Non-Farm Employment Change missed expectation, signalling a potential miss of NFP on Friday, which did indeed happen....
Cable is a great opportunity right now to make some pips. My buy target is set to 1.536 with a SL beneath 1.1332 as it is possible a stop hunt will take up to that level. The sell target is first the .618 fibo and a second target of 1.58.
Previous entry near 1.565 is up about 150 pips and $GBPUSD is 50-100 pips away from final target level - The completion of the bearish BAT near the weekly 200 SMA and a weekly downtrend line. 1.585 is the potential sell zone.