Hi guys, hope you are all well. As i mentioned in the video the sound quality is not great due to having internet issues on our trading floor so i have had to come home and do it here. Anyway..... we are looking at taking longs on EURGBP as mentioned in the video we have many confluences on x3 different timeframes such as the weekly, daily and h4 and we are now...
The video explains exactly why we are long on EURGBP this morning, but it also details our trading system and explains exactly how we trade.
The main point is that we only enter on the Fibonacci retracement, but we use it a little different than everyone else!
Anyway, enjoy the video... more posts coming later
EURGBP sees nice support from trendlines !
Thanks everyone for tuning in to today's analysis . If any part of this video is unclear, please ask me for in the comment section below. If you found today's video useful in any way, please "like" this video and leave a comment on what currency pair you'd like me to analyze next too.
Until next time, see ya!
Quick update on GBP pairs.
It's rallied into some key resistance levels on my charts. This could potentially signify exhaustion and lead to speculative selling/profit-taking in the very short term.
Keep a watch on the formation of this daily candle, if it posts some kind of inverted hammer or outside day, then I may look to sell some GBP pairs next week in...
Monthly – Triangle formation. Trend of lower highs at 0.9022
Daily - 261.8% and a DeMark 13
Intraday (four-hour) – Expanding Wedge has a bias to break lower
We look to sell EURGBP at 0.9000
Euro-zone retail sales declined 0.3% for May compared with consensus...
FX:EURGBP , OANDA:EURGBP , FOREXCOM:EURGBP , FOREXCOM:EURGBP
A confluence of Fibonacci levels on the weekly - Selling EURGBP
Weekly – Trading at the upper end of a bearish channel. Confluence of Fibonacci levels with a 78.6% & 61.8% in close proximity.
Daily – Failed at a 78.6% Fibonacci level and close below the 10EMA for the first time in 30...
Well referenced political news is important.
Sterling could see serious volatility next week if political pundits are correct about Theresa May being forced out of her premiership next week in relation to Brexit confusion.
Rival MPs are already jostling for position as Wednesday is the big day.
The uncertainties could send GBP pairs into high volatility...