Looking to BUY GBPUSD in BUY AREAS and to close position in TP AREAS. (30+ PIPS)
Looking to target price area 1.291
- Do not trade if price breaks through BUY AREAS with clear bearish momentum
- Wait for reversal pattern
after a massive buying reaction last week we see that GBPUSD is slowing down.
rising wedge formation is a very good indicator of weakening momentum.
More the market contracts within the pattern, higher the chances that it will break to the downside.
I am waiting for a bearish breakout of the wedge to short...
Looking to BUY GBPUSD in BUY AREA and to close trade in TP AREAS (30+ PIPS)
Looking to target price area 1.284
- Enter on reversal pattern
- Do not enter on bearish break through of buy area with strong momentum
The pattern on GBPUSD daily chart is more of a rising wedge. If this is the case, then cable could likely be ready for a short trade around 1.28 level. However, overall market sentiments is still bullish
Looking to SELL GBPUSD in SELL AREA and to close position in TP AREAS. (30+ PIPS, Potential 120PIPS SWING)
- Do not enter on strong bullish breakthrough of sell area
- Look to enter on reversal pattern
- If price breaks through 122 area with strong bearish momentum, execute sell
TRADE AT YOUR OWN RISK!
very interesting situation on GBPUSD .
The pair is coiling around 1.27 structure resistance
and we see a clear rejection of this level.
The pair has just formed a double top pattern,
and there is a high chance of switching the sentiment from bullish to bearish .
Our trigger is the bearish violation of 1.255 structure...
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...
Hope all is well. My 13th published trade on Tradingview.com (EURJPY was a huge disaster and stop-loss was hit)
*Please keep yourself alerted on my trades, I will advise either on my Instagram (@Saifsofficial) or in the comment section in Tradingview.com*
Taken this short on a 4hourly time frame based on the price, rejecting from a major...
yesterday we saw a very significant movement on GBPUSD
and the pair is very very close to a key supply zone .
I think that many traders will take profits inside this area and structure trades will open shorts.
For this reason, on my trading radar is 1.249 - 1.258 area of resistance.
I will be waiting for a...