We saw this pair break bearish yesterday and break the trend line i have plotted. You can see price broke below that and retraced at support. Price is currently at 50% of that bearish breakout. We MAY see price break lower as divergence is also evident. Having said that, we may see price retest that trend line before a potential bearish move. If price re tests the...
Can you tell us why you think price will bounce at our green zone? post your answers below... winner will win a pink unicorn called Fred... I bet you all want to enter now ;p
We keep saying it but SIMPLE is BETTER in forex trading! we will drill it in to your heads sooner or later.
Anyway the winner of the competition will have to collect the unicorn from the...
Our purple line we have drawn on our chart is a VERY strong monthly and weekly support level in fact it is so strong we are wondering if it broke into a steroid factory and swallowed all the pills, if you don't believe me then open the chart and take a look for yourself... but of course you would do that anyway and not blindly follow a strangers say so wouldn't...
We just thought we would give you a FREE trade to brighten up your Monday morning ;p
Price is at 4H support and GBP is showing slight signs of strengthening so we can see a pullback coming this week, and after weeks of bearish movement the bulls will take over for a while enabling us to catch 100+ pips with ease.
Thank us later.
As we can see GBP JPY is in a really strong area of support that has been used many times before but with all the recent bearish pressure going into this level could we finally see it break?
Price was last below this level in Feb of this year and ever since breaking through this level price has been up and down touching multiple times, now with some medium impact...
Break or bounce? As you can see we have a strong support zone that has been used many times before where candles have entered this zone and then bounced, now we are looking for more of the same again as price is currently in this zone, so a bounce and bullish movement.
The only thing to be wary about with this bounce is all the bearish movement going down into...
If you got on my last trade idea for GJ then well done, inbox me your number so we can arrange for you to take me out for that drink ;p
We can see price rallied through our support zone as we mentioned in our previous post, we can now see price having a pullback and making a bullish run up to this same zone again but this time using it as resistance and bouncing...
We are looking for price to reach our resistance zone ( red box ) before making a bearish run down to our support zone ( green box )
The technical all look good and are pointing to bearish movement, we have some high impact GBP news on Monday morning and then again on Thursday so this trade could easily be achieved this week.
See how nice simple charts can make...
If you struggle with this come have a chat with us, we can change the way you look at the markets! You have to think outside the box instead of staying in the box the government wants you stuck in! Most people are happy stuck in a low paid job and just about earning enough to SURVIVE and not live.... Work smart not hard.
November 2016 is last time price was lower...
Expecting a break of structure past the 137.900 (previous HH) level to the completion of the bat pattern at 138.600 which is within the 88.60% and 1.618% point of the D zone.
From there I will be expecting a minor retracement (50.00% or 61.80%) to TP1 which is point B of the pattern, from there I will be looking for signs of a trend continuation to enter long...
Formed we have a good trend line ( TL ) now price is been pushed into our red zone which is previous support, we are expecting 1 more test of this area and then price to break through this TL.
We have had weeks of bearish movement from this pairing, but now with May resigning we personally are expecting GBP to strengthen slightly which will cause this strong TL...
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