Expectations are a rise.
Instructions - if trade flat or has not moved in the next 2 hours, take small loss or small profit.
Trade with caution, this is not financial advice.
Entry: Market
SL: 1.38975
TP: 1.40340
This is the completed GBP/USD accumulation trade I previously charted and posted. Take profit 1.4000 achieved. This trade was a lot better risk reward than the previous GU trade which I entered too early and got stopped out of.
I can see a large 4HR Accumulation on "Cable" This is the Wychoff Accumulation 1 schematic. I have setup 2 different trades one targeting the initial break of the descending trendline and the other is targeting the previous weekly high.
Expectations are a rise.
Instructions - if trade flat or has not moved in the next 24 hours, take small loss or small profit.
Trade with caution, this is not financial advice.
Entry: Market
SL: 1.39630
TP: 1.41484
Hi everyone, sterling went through a turbulent previous week ranging from 1.36114 - 1.37500. Towards the back end of the week we saw price make yet another attempt at the 1.375 level but failed, visually producing a 'double top' price structure and ultimately price falling away from the highs. Sterling is still proving to be quite strong in these market conditions...
Very strong resistance was broken at 134.5 level. Since breaking this level it has touched it twice and found support. If the Dollars short term strength continues in the coming days this support will offer a good long entry. There may be some resistance at 1.38 so it could be worth taking profit there or wait for 1.40 for a longer term target.
What a week! Continual weakening on the TVC:DXY which caused my gold trade to fly through the roof at 320 Pips profit! Ive been thinking a massive economic reversal will be approaching since the lows in March due to the start of the UK's lockdown. My GBPUSD long positions have been consistently benefitting of this as I've been picking up long positions in the...
I can see a very strong 4 hour bullish backbone which I have looked at for a while now, with the previous highs also creating a resistance level, I'm looking for a bullish breakout. As the markets open tonight I'm expecting to see a little bit of bearish movement to retest the supportive trend line but then if rejected, ideally by a bullish candle, Ill be looking...
Hi Traders,
Cable has entered the week 20/07 with some noticeable strength and should not be ignored. Here we have a buy opportunity on the GBP/USD to potentially the 1.28 handle before I begin looking for signs of a reversal. This week the cable will be faced with some PMI and other economic data figures along with the ongoing Brexit negotiations. Reports...
After seeing what looks like a skewed double bottom formation, with the first low late Friday evening and second low Monday morning.
Expectations are a further rise.
Instructions - if trade flat or has not moved in the next 2 hours, take small loss or small profit.
Trade with caution, this is not financial advice.
Entry: Market
SL: 1.25900
TP: 1.26732
From my education in forex, I have learnt from multiple people that Monday can be a manipulated day in the industry caused by, big hedge funds and banks. I always allow to have Saturday off, come to the charts on Sunday, and begin a week ahead analysis and today would have been a 'perfect' day to trade in, but I stuck by my rules and I'm now having to overcome...
Hello Traders,
GBPUSD is about to start its upside but its not long term trading ! It's only for a few weeks. Its going to have a lower low after its finished the pattern that is forming now.
Beautiful pattern if its going to work, don't miss out on it.
See my previous chart about GBP and see my prediction on it !
Trade Safe Trade Simple
Alex
