The pound seems to be in a very large flag pattern, but a mini triangle pattern, so this brings about the perfect swing trade,the 200 MA will provide resistance and so thats the stop-loss, but the short is when the Pound drops below the 100 MA till the lower support trendline.
When looking at the 4H GBP/USD, as the week gets kicked off look for the 01:00:00 candle to close bullish, as that would be the third requirement for a Morning Star set-up (look it up if you're not sure what I'm talking about), it is that verification that we need in order for the pullback to be valid. But that is all that it is, a pullback, and from the looks of...
Short trade opened on FX:GBPUSD .
- Trendline
Upward trend line has broken. Price is now stalling around a previous daily demand zone.
- Pin bar
Price has printed a 4hr pin bar suggesting a potential reversal.
- Bearish Flag
Bearish flag pattern on the 4hr suggesting a short continuation.
The 1hr is still bullish so entry could be really early here but the...
5.4 RR - Rejection @ 1.253 trend line level with an aim to TP1 @ 1.229 key level. TP2 1.223.
Lets see how this setup plays out. Could be a longer term hold across a couple of weeks potentially.
A little bit late with my idea. I wanted to post it earlier but forgot.I expected price to rich yellow rectangles. It has not happened yet, but in 1-2 days it probably will happen.
Price made a very weak projection. And could not even reach 1.27 Fibo Level. And bears are more agressive. I can see 2 possible scenarios:
1. Trend change ( breaks yellow...
GBPUSD 4 hour chart still gives us some more momentum to the downside before the up move it is believed that price will eventually reach the 1.24000-1.24500 area if the area breaks the market structure we could see it go all the way to 1.2650 if it fails to break market structure we can see a further downside of 1.1990-1.1850
PS: This is not a trading signal just...
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...
Hi Traders, check out this H&S move. Could result up to 6500 pips. Limit unknown as never been this level before. The next price move -March 2017 - could be as far as the head level but in the opposite direction (down) - triggering of Art 50 could be the catalyst. As you can see already broken the neck line. Best to be prepared.
Possible bullish pattern, I expect it to hit the missed pivot. at 1.233. We may have one more impulse leg to the high creating the last leg of the elliot wave.
Now, Pound Sterling is supporting area in 38.2 Fib retracement zone. The start of downside Trend was 1.27240 since last year of Dec 5. Now, New government was came up. Everybody probably know that uncertainty make dollar falling sharply.
Good Luck to you!
