more delays for brexit should see big gap down and a return to retest previous lows.
if deal is agreed then we should see gap up and continued strength in the pound.
honestly, i have stopped day trading the pound, it is very volatile and now looking for longer term positions.
As a young person in the UK i feel my views have been forgotten about. To anyone over the...
I didn’t get the buy Position i wanted and others probably also missed it. Here is a safe short analysis. I will be shorting 1.3040 with TP 1.2780. No SL. If things do change I will be able to close my short with 0 profit. Will update if that happens.
Hi, Traders ! Monfex is on the air !
GBP/USD can reach 1.30 already this week on a positive wave of a Brexit deal.
* During the past days, GBP has increased in value significantly ag USD against the background of improved outlook of a Brexit deal.
* There is the possibility that the UK government could start legal procedures to avoid asking for an extension...
after a massive buying reaction last week we see that GBPUSD is slowing down.
rising wedge formation is a very good indicator of weakening momentum.
More the market contracts within the pattern, higher the chances that it will break to the downside.
I am waiting for a bearish breakout of the wedge to short...
Quick update on GBP pairs.
It's rallied into some key resistance levels on my charts. This could potentially signify exhaustion and lead to speculative selling/profit-taking in the very short term.
Keep a watch on the formation of this daily candle, if it posts some kind of inverted hammer or outside day, then I may look to sell some GBP pairs next week in...
Looking to BUY GBPUSD in BUY AREAS and to close position in TP AREAS. (30+ PIPS)
Looking to target price area 1.291
- Do not trade if price breaks through BUY AREAS with clear bearish momentum
- Wait for reversal pattern
Looking to BUY GBPUSD in BUY AREA and to close trade in TP AREAS (30+ PIPS)
Looking to target price area 1.284
- Enter on reversal pattern
- Do not enter on bearish break through of buy area with strong momentum
We've all been there....
- An alert on your phone draws your attention, "GBP USD up x%"
- A news story comes out; in this case "Brexit Breakthrough" and before you know it the markets are going nuts.
- You scramble on to the charts to take a look at the action and Holy Moly things are going UPPPPP!!! Naturally your eyes ignore all of the indicators on the chart,...
As we get closer to Brexit the £ has gained a lot of bullish momentum, I believe it to be short lived and we should see a big sell coming from my area. Being patient with this one as it looks like it is lining up.
Looking to SELL GBPUSD in SELL AREA and to close position in TP AREAS. (30+ PIPS, Potential 120PIPS SWING)
- Do not enter on strong bullish breakthrough of sell area
- Look to enter on reversal pattern
- If price breaks through 122 area with strong bearish momentum, execute sell
TRADE AT YOUR OWN RISK!
Multiple timeframe trends aligning on GBPUSD now.
Daily bearish TL broken, 0.618 fib tapped and a higher low made.
1hr trend is bullish.
I have entered on the higher low at 1.23200 with a higher low, 1hr 50ema for support and the bullish 1hr TL
TP1 is at 1.25 (1hr trend fib extension)
TP2 is if there is daily momentum and it is a higher high on the daily timeframe
As we enter into August of 2019 we are back to what is considered life time lows for the British Pound, seen previously in 2017 due to similar circumstances surrounding the issue of Brexit. To throw things into the mix, are we now entering the period where it's a good idea to begin buying GBPUSD?
If we look at the entire picture available as shown on the monthly...