Our previous two trades on GBPUSD went perfectly, where we took profit taking a long from support to resistance, and a short after price broke below support.
GBPUSD is currently in a downtrend channel, so all plays should be short for the moment.
We remain bearish on GBPUSD as it heads towards the Major Support level.
A breakout through the trendline may provide...
GBPUSD has just it's 4th leg on an M formation, with price reacting perfectly to our previous prediction.
We have taken profit from our trade long to resistance, and now wait to see if price breaks through support or bounces back upwards.
Interestingly, the 200 MA is sitting near the Support Level at the moment adding an extra layer of buyer demand.
However, with...
Price is at an interesting point currently on the GBPUSD 1H Chart, sitting at a local support level.
A break of the local support level would warrant movement towards TP Zone 1.
A bounce off the support level would see price move to the Resistance Level. At the resistance level price may then breakout yet again and travel towards the Long TP Zone. However, we...
Long GBPUSD based on MACD divergence on daily chart Also retest of previous support (now resistance) is possible Also the same area is Dynamic zone ( SMA30 & SMA50) which will offer fresh short opportunities for long term
Note and Remember this idea is technical not fundamentally ,
According to Techincal , It`s down move 3000 pips and make flag pattern and then it`s down 3000 pips also reached and now flag pattern complete , Now time gbp going up ,,,,,
Hey Guys,
You all know I don't use complex elliott waves and have my own rules for doing wave counts & I keep those counts as simple as possible. From last week, most of us are confused whats happening with GBPUSD, even in chat rooms there is heavy discussion on gbpusd. When I opened the Gbpusd, ( Note: I was already annoyed with last week), So I skipped & said...
Some news for GBPUSD Bulls ...
Check on the 15 minute chart ...
A PENDING Falling wedge/Descending Triangle is forming on tentative supp ...It could break out and hit./target the marked TL areas ...depending on the strength
but this will be more correction than impulse ..
Im getting increasingly BEARISH on the POUND ...as we go along ...
GBPUSD retest the support zone around 1.2980's for the 4th time and we have potential double bottom forming in the zone. So once Double bottom & bullish reversal is confirmed, initiate long positions in GBPUSD with stops below wicks of support zone.
Feel free to leave your comments/opinions...
GBPUSD chart is quite self0explanatory,a s per the wave count shown on the chart , the elliot wave has completed and just started the corrective wave (c), We have double bottom also providing support, GBPUSD retested and bouncing back from zone around 1.2930's. After checking your trade plan initiate longs.
Happy Trading !
GBPUSD is very bullish for last few sessions and shorting it would sound like crazy idea. But with proper trade plan & defined risk you can short GBPUSD. I expect the price to reach the marked resistance zone and we have previous swings Golden Fib Ratio 61.8% in our resistance zone 1.3150's which adds up more confirmation, check RSI overbought condition if you...
Afternoon traders,
I trust you are all enjoying your weekend after an insane Jackson.
Apologies for not getting to post this sooner guys... Ahead of next weeks PMIs and NFP i'm adding looking to add shorts on cable, firstly, congratulations to the beach club who managed to catch the 1.32737 shorts with the spike - sterling bulls are in trouble if economy does...
In last few hours it fell down like a rock, indicators will be oversold soon and price will somehow reach near trendline where on positive price action i will look for long otherwise not interested
