Buy above 1.2510. Stop loss at 1.2421. Take profit at 1.2651. Reason for the trading strategy (technically): Price has shot up and reached our profit target perfectly as expected. We now remain bullish above 1.2510 support (Fibonacci retracement, horizontal pullback support) for a further push up to 1.2651 resistance (major Fibonacci extension). RSI (34) has...
will be looking for a pullback before we jump into a short position
Hey guys, just wanted to share my view on gbpusd; as you can see price has recently broken to the upside this simple pattern called triangle. It's basically made of two converging trendlines that encompass price action. You can take advantage of this pattern by simply buy at the first candle close above/below one of the trendlines, or you can wait for a...
I'm expecting to come down on that level which i have mentioned (SSR)
Sell below 1.2481. Stop loss at 1.2527. Take profit at 1.2390. Reason for the trading strategy (technically): We remain bearish below 1.2481 resistance (Fibonacci retracement, horizontal overlap resistance, descending resistance) for a push down to 1.2390 support (Fibonacci extension, horizontal support). RSI (34) remains below long term descending resistance.
Seems market is not moving today due to US Bank Holiday. However, we figured one potential limit order before the pair continue down further to 261.8 level If price break the trendline.. then you should know what to do. Or the best way is.. wait until Sell Setup appear..? Good Luck...
Hi traders!I hold a point:Good charts does not more words to explain! Good luck!
Buy above 1.2384. Stop loss at 1.2330. Take profit at 1.2521. Reason for the trading strategy (technically): We close off our short position and lock in our profits from last week. We now turn bullish above 1.2384 support (horizontal support, Fibonacci retracement, Fibonacci extension) for a push up to 1.2521 resistance (Fibonacci retracement, horizontal swing...
Hi,traders!I hold a point:Good charts does not more words to explain! Good luck!
Using just Fibo. waiting for Long Signal and than it can rise for the next 500pips up to the Trendline and 61%!
Sell below 1.2546. Stop loss at 1.2632. Take profit at 1.2356. Reason for the trading strategy (technically): We remain bearish below 1.2546 resistance (Fibonacci retracement, horizontal overlap resistance) for a further push down to 1.2356 support (Fibonacci retracement, Fibonacci projection, swing low support) especially with price making a bearish exit. RSI...
A strong support level at 261.8 Fibo level, where it pullback and create reverse flag pattern. I will hold my current short position minimum at first DP, I will monitor during news. If the impact is big, the price may break first DP and go further down to next DP (Strong Key Level). Good Luck.
Expecting a further push down to 1.2356.