The GBP had a bearish start to the week breaking below the 129600 handle, well done to those that took advantage of this move. Following good GBP PMI data and bad US PMI data we saw price retrace most of the losses.
A bullish wedge has formed on the GBP with a bullish cross of the stochastic. Any bullish plays should be taken with tight stops too...
GU here. Potential for a long on this pair, have a ascending trend line, ema plus a fib level which, if respected could be a good entry for a long. Be cautious with this pair as GA and GN look very weak so this may just crumble so don't put a big lot size on maybe 50% of what you would normally do just to be safe.
200 PIP GAIN 5/1 RR
We saw a GBP rally last week on news that Sajid Javid has stepped down as Chancellor of the Exchequer. This is an important post in government because it is responsible for collecting revenue and making payments on behalf of the government. Sajid stepping down leaves the potential for the successor.
130800 is the level we are watching for on the...
We have a nice setup here. A well respected trend line sits underneath price and makes up the bottom of a bullish triangle. There have been recent impulse moves that trade in a channel and break up after so expecting the same here.
Elliot Wave fans will like the Elliot Wave Triangle, let's see if it fits perfectly and breaks out on move F.
Beware of Brexit Day...
For this particular asset, we saw price break to the downside from the consolidation pattern and bounce forming a small bullish trend off of the double bottoms. The bullish stochastic is a sign there is some momentum to the upside.
The double bottoms have thrown back to the confirmation level and any sign of bouncing is a signal to buy this asset. A...
The GBPUSD asset was mainly controlled by dollar flows last week. Strong data out of the US economy support dxy shorts and eventually, we found a rally. This week I am using the Tom Demark's pivot indicator to determine a trend. It is showing we are bearish on the break of S1 and the stochastic seems like it is in a continuation to the downside.
The GBPUSD broke the consolidation pattern and kept below the 131740 handle this week tagging the 130150 level.
Price had been quite choppy this week running tight stops to the long and short side. The stochastic is chopping so far in the year suggests we haven't established a trend as of yet.
At these levels a break below 130150 we can look for...
First week back to the markets, we have some big fundamental news come out during the trading week. US and Iran tensions have spilled out into military aggression.
I consider the GBP to be a long only asset so with all the uncertainty a consolidation pattern has formed. Plays to the downside are limited in strength.
The stochastic indicator shows...
With the price point now reaching a consolidation area following the recent general elections. I see the the strength of the pound greatly encouraged by the re-elected Boris Johnson.
There is the possibility for the GBPUSD to reach daily highs in the coming days. With an almost certain retest of the 1.32250 Price point (to form a right shoulder in a H&S...
We saw high impact events last week, most notably the UK general election on Thursday. The market reacted positively to the Conservatives retaining majority.
However, the following day price found bearish pressure but the GBPUSD did not erase the gains made on the day. Which suggests there is demand.
The stochastic crossed bearish, the GBP may have...
As you have seen a decent rally on all GBP pairs, particularly on GBPUSD which is due to UK Election and DXY weakness. We can see a nice reversing candle sitting on the 4h chart which suggest we might see some retracement towards the previous support level where I will take my profit and look for opportunities to go long again as this pair didn't...
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...
Hope all is well, my 10th published trade on Tradingview.com (USDCAD is making its move to take profit zone, slowly but surely. If you got in at where I said, then fantastic. We're catching these pips together.)
*Please keep yourself alerted on my trades, I will advise either on my Instagram (@Saifsofficial) or in the comment section in...