This move was taken due to analysing price action and the momentum of the market on the (4H) chart we took a 2 bar setup that was actually at support. We could potentially see price move down to Support at "1.7100" I currently have a trailing stop loss to lock in some profit if price moves against me.
General Ideas of movement. Upside is there be cautious. Set Stop and Take profit properly. Manage your risk.
Sellers seem to be in control of price as it rebounds strongly from the 1.75554 are. However, at 14:15 the GBP inflation report hearings will commence. Therefore a tentative approach to this trade is key. Updates will follow in regards to my entry.
If I see a bearish candle without chasing the price i go short after the consolidation. Price is near the trendline, but actually it doesn't makes much sense to me, because there were a bullish impulse on 1st of September. GBP can break the trendline and go a little bit higher, but I don't think if it happens will be strong.
Last week we saw not one but two SURPRISES in the market. Moving forward into next week, we are expecting a more active week in the markets. The focus will be on JPY, GBP, AUD, CAD and EUR; well basically almost all the major currencies. Read the full blog here: www.alphaplay.com.sg Watch this week market analysis here: youtu.be
Hey Guys, this is my View for GBP/AUD so far. This Pair broke the Daily Trendline to the upside and tested this line. Now its moving within a flag Pattern. i wait for a break to the upside, out of the flag Pattern to enter my long Position. Always Trade safe, Daniel
-NEW SIGNAL- Type : Pending Order Date : 8.8.2016 Time : 23:40 GMT+1 Technical : Daily demand breakout with BEOB Pair : GBPAUD Timeframe : DAILY Trade setup : SELL STOP Entry at : 1.69701 ( 70 pips left ) Take profit 1 : 1.66841 ( 285 pips ) Take profit 2 : Take profit 3 : Stop loss : 1.72538 ( 283 pips ) Risk reward : TP1 – 1:1 TP2 – TP3 - Our risk : -...
PRICE ON THE DAILY CURRENTLY SITTING WITHING A MAJOR BUY ZONE, AS YOU CAN SEE BY THE POINTS HIGHLIGHTED IN SEPT 2015 AND ALSO 2014 ZOOMING IN A LITTLE THE DAILY CANDLE FOR FRIDAY TIRED A STRONG PUSH BEARISH POST NFP BUT THE 8/1 FAN ZONE KEPT IT IN CHECK FORMING A NICE DOJI. A BULLISH DAILY CANDLE TOMORROW WOULD INDICATE A HIGHER LOW AND WOULD INDICATE FURTHER...
The price seems to have successfully completed an H-S pattern. Plus an Elliott Wave pattern all the evidence show bearish movement in the 15min chart.