Look for PA within the trend continuation pattern to sell.
Idea: Testing strategy against the retrace using OBOS and stacking related time frames. I am expecting the retrace to have reached its maximum price limit and price to return to the trend. Pros: Perfecting the entry will maximize the profits from the previous leg up. Accurately predicting retracement highs could also be useful for early entry until stronger...
Buy above 1.2633. Stop loss at 1.2483. Take profit at 1.2886. Reason for the trading strategy (technically): Price is testing our major support at 1.2633 (Fibonacci retracement, Fibonacci extension, horizontal pullback support, bullish divergence) and we expect a strong bounce above this level to at least 1.2886 resistance (Fibonacci retracement). RSI (34) sees...
GBPUSD MAY HIT RESITANCE IN THE 1HR CHART THEN REVERSE BACK DOWN AT 1.2502
Looks like it is about to bounce off the .382 fib level which also happens to have been a significant reversal point for the last month. Looking to short this pair back towards last week's lows. Expecting a sharp move down. SELL @ 1.27791 SL @ 1.28226 TP1 @ 1.27112 TP2 @ 1.26552 R/R 2.8
Buy above 1.2703. Stop loss at 1.2596. Take profit at 1.2886. Reason for the trading strategy (technically): Price is holding really well above our buying area and forming a nice reversal pattern. We remain bullish looking to buy above major support at 1.2703 (Fibonacci extension, Fibonacci retracement, horizontal pullback support, bullish divergence) for a push...
Potential Short position as I believe the trend will break through the triangle and continue bearish move towards the support level
I trade short gbpusd since 10/06 at 1.2740 level with 1.2907 stop loss and 1.2573 take profit limits. This is 1 of total 1 current open trading signals at 98club.info This trade setup based in one of my profitable excel trading models. (average backtesting in 9 forex pairs is now 11.7 months), 85/149 win trades (57.05%), +22.06% profit indicator or 0.15% per...
GBPUSD has two possible scenarios. The first is to return of price above 1.2740 support, then today’s breakdown of support could be treated as a false breakout. The second scenario is the test of nearest support at 1.2570. Currently this support is further reinforced by the upper limitation of the triangle from which pair broke out in mid-April. Today’s session is...
GBPUSD has two possible scenarios. The first is to return of price above 1.2740 support, then today’s breakdown of support could be treated as a false breakout. The second scenario is the test of nearest support at 1.2570. Currently this support is further reinforced by the upper limitation of the triangle from which pair broke out in mid-April. Today’s session is...
price complete butterfly pattern. will look for entry on smaller TF
GBPUSD doesn't want our attention!! It doesn't matter because we will figure out this one. See the chart for more details.
Elections in Great Britain and the ECB meeting may be the cause of increased volatility. But we have an explicit long-term range with levels of support and resistance. A pound can break through support / resistance levels or stay inside the zone at 288 points. Trading in the range can be profitable. In this case, consolidation can be formed.
61.8% retracement. RSI Divergence in 1h timeframe SELL with the blessings of fundamentals
Break of triangle and here we go 1.2770. Do not open a position if the triangle is intact. Wait for the candle to close below lower trend line, Let's Watch !!
RSI about to reach overbought level R:R at 1.2 (TP1) and 2 (TP2) I will update when pattern completes.
Though being slightly incorrect wolfewave, it appears to be a good opportunity for sell entry. Opened short at 1.29568/1.29593 TP 1.2832 SL 1.3052 (If 2-4 line is broken, SL will be moved to right after the peak point 5.) GL All!