Hey traders, I'm looking to grab a piece from this opportunity. Reason for entry: Cypher completion D + Price failed to close below bullish trendline despite several attempts. + Double bottom in area of cypher D closed the deal for me. Entered long at 1.29800 Target based on 38.2 fib of C-D leg (adjusted for the entire move)
GBPUSD Long idea, first target is orange line(1.308), the main is the top (purple)
Pro's - good reversal pattern. - price sat at good support. - recent break of downward trendline, now retesting. - 0.5 Fib retracement level from previous swing low to high Con's - Trending against the trend - Trading through EMA's including 50EMA on daily. Thoughts? Please comment below
To me the GBPJPY has been correcting it's huge move up, from Jan 2012 to June 2015 - The question is... is the correction over or do we need another zigzag and wave C. Right now I think a break of the first trend line and target the second one.
With NZD still struggling to make any consistent good data and CPI expected to fall again this week we expect to see a huge relief rally on this downside against the GBP. This is a longer term trade and will probably last for a few weeks so trading it at smaller lot sizes to accommodate the large stop loss is wise...also take into consideration the difference in...
Leading up to the Average hourly earning figure today there is a high expectation of good data, Although this is probably going to be the case there is a possibility of it missing expectations slightly which could cause a pull back before the rally. Lokking for rejection of the S1 pivot point to jump in for a buy with a stop loss below the s2 level. Learn 2 trade...
Learn 2 trade fx take the FREE course - boafx.com - We are looking for strong rejection of the support level within the buy zone on the 4 hour chart and signs of decelation on the Daily chart. If this doesn't happen in the buy zone then we will likely see a fall further to 15000.
For the first time this year the C.O.T. report is showing long positions are higher than shorts amongst non commercial traders. This is a clear sign that long term sentiment is changing.. Although we are likely to see the 15000 level tested again and a possible dip towards the 14600 support it is time to start thinking about long term buy positions with large...
Learn 2 trade like a pro - boafx.com - With the risk off sentiment now shifting and a better than expected services PMI coming from the UK I am expecting to see this as the begining of the rally on the GBPJPY
Learn 2 trade like a pro - boafx.com With the construction PMI expected to be better on the GBP today and the Oil price back in free fall we should see a degree of intraday weakness in the CAD and strength in the GBP hence I will be looking to buy this currency pair