The secondary trend of GBP/CAD is bearish on charts and price is trading below the trend line in its 4 hourly chart. In 4 hourly chart the price is sustaining below 200 day SMA and taking resistance of 50 day SMA indicating downtrend of the pair. Resistance level of 2.0145 and Support level of 1.9870 If it breaks its support level on the downside and sustains...
PRICE IS MAKING ITS WAY BACK DOWN TO A CRUCIAL AREA A BREAK OF THIS LEVEL WILL SEND THIS PAIR INTO UNKOWN TERRITORY THUS CAUSING A PANICK, I THINK BUYERS WILL HAVE ENOUGH STRENGTH TO PUSH THIS BACK UPWARDS. IF SO WE ARE AT AN AREA WHERE WE COULD POTENTIALY FIND A BRILLENT BUY SET UP PLEASE FEEL FREE TO AD YOUR VIEWS AND OPINIONS
Pair was giving a trouble lot, we expected down trend after had channel breakout. But we were wrong and that breakout was just shallow wave B. However, same time this mess is clear now and we have more visibility of this pair move. We are expecting price to test 200 SMA on 240min chart and same time possibly we will re-test the bearish trend line.
Read text written in the chart.
Read text written in the chart.
GBPUSD is on risk of mean revertion downwards trade. Price is tagging upper 1st standard deviation from weekly (120-h) mean) from inside amid compressing volatility (measured by 3.2 standard deviations) Traders can take short positions at the 1st standard deviation (1.5450) with stop above relevant highs (1.5485) and targeting the weekly mean (now at...
the short term short position on the GBP/USD failed because of news coming out. But my other trade GBP/NZD took a lift because of that same news. This is a killer Confluences : 1/ with the trend 2/ Nice long legged doji 3/ testing support level 2.3 4/ bullish MACD divergence 5/ we are coming of a double bottom at 2.273
I think i found quite an important resistance/support line here and i think it will go up from here. Please share your thoughts with me on this trade
Nice strong bullish trend, could have a little pull back to retest the support level then price could make its way towards target.
This very large bullish candle has wiped out all gains the yen had made over the last week or so. has broken above a resistance level and i expect it to further climb to its previous highs around the 189 levels. This is where i have set my price targets. My stop is just up the resistance level that we just broke through at just below 185. It was looking as if our...