In this idea on GBP/USD we find confluence of two major chart patterns. A supporting trend line and a horizontal support zone. In trading, the presence of confluence refers to a circumstance where multiple technical analysis factors collectively form the same indication. Since multiple factors are combined, confluence has the potential to greatly increase the...
Impulse for work intaday and long Long position till end this year (Oct-Nov 2020) Yellow arrow = 10.88 ATR 172 (days) TP1 - 2.02 TP2 - 2.09 SL - 1.96 WEEKLY DAILY Based on Fractals Calulated on Fibonacci and ATR
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if a strong Bullish candle happen in the shown price we're gonna open a buy position with the shown stop loss and take profits good luck :))))
In this idea I will share my technical analysis on GBP/USD and explain what the most important things are to pay attention to. Here on GBP/USD we see that overall the pair is in an uptrend, which can give us a slight bullish bias, favoring long positions over short positions. At the same time we see a small horizontal channel forming between the horizontal...
Price at resistance level on daily during a dominant downtrend. Scaling down to the 4hr we see price has formed a double top at this same level. Which could hint towards bullish exhaustion prompting bearish pressure to come in and push price lower. This could cause a shift to the downside if we can see price break through the lower trendline.
Finally the INVERSE AND SHOULDERS is broken and we have a another chart pattern formed on the NECKLINE in expectation of the retest giving us a FLAG pattern which signifies the bulls are currently in the market Just leave me a comment in the comment section and tell me what your thoughts and also a thumbs up if you go with me
Its no news that the GREAT BRITISH POUNDS is about to sky rocket which will give rise to the GBP pairs across boards.Here is perfect clean set up which shows vividly from the W1 that the original trend is an ascending one and moving down to the lower time frame which brings us down to pretty multiply time frame analysis we can see clearly here on H4 that their is...
The ascending trendline channel has been broken giving us a HEAD and SHOULDERS chart pattern.A retest of the broken trendline will give us a very good reason to open up positions knowing fully well that we are about to ride the bigger fall seeing from the W1 timeframe which made its impulsive move and formed a correction which has just broken...The fall of EURGBP...
We are approaching to hit the trendline so depending on the price action do I will open a short or a long position. If I see a bullish pinbar or hammer formation on the trendline I will go LONG. If we close on 4H bellow the trendline then I will go SHORT. Let's see what happens...
After retest, is going uptrend Max risk is 0.80% Comment what are you think about this analysis ;) If you like my Analysis, follow me, and get more !
1.5% 1:2 RISK TO REWARD. 12.5 PIP STOP LOSS FOR 25 PIP TAKE PROFIT. I am looking for BREAK BELOW LATEST LOW AT 133.800 area. Simple BREAK AND RETEST trade. I personally have a SELL STOP AT 133.77. I am personally risking 1.5 %. Risk what is appropriate for you. Check out my YouTube at PAPICHULONOE.
In this idea I will explain how you can enter GBP/USD (Cable) with a great risk-reward trade based on the technicals of horizontal support and resistance. Whoa. We had such an amazing trade here on GBP/USD last time using these zones, let's try to do that again. First let's quickly recap our previous succesful idea: We found confirmation on the resistance, and...