LeeThompson97

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Joined United Kingdom
Markets Allocation
85 % forex 4 % stocks 12 % other
Top Mentioned Symbols
USDCAD 11% | 3 GBPEUR 11% | 3 EURGBP 11% | 3 GBPJPY 7% | 2
LeeThompson97 LeeThompson97 EURCAD, 120, Short ,
EURCAD: EURCAD - Strong Rejection and Divergence
50 0 2
EURCAD, 120 Short
EURCAD - Strong Rejection and Divergence

Price is currently at the top of a bearish trend line after strongly rejecting previous resistance. Furthermore, price is at the 61.8 fib retracement zone and divergence is visible where price is making lower highs and RSI is making higher highs indicating a sell.

LeeThompson97 LeeThompson97 EURGBP, D, Short ,
EURGBP: GBP/EUR Descending Triangle & Regular Divergence
75 1 3
EURGBP, D Short
GBP/EUR Descending Triangle & Regular Divergence

Price is currently at the top of a descending triangle.. my bias is that price will break to the downside. Look for the close on the daily timeframe, if price does not break the top and instead shows a reversal candle use the counter trend line (4 hourly) to enter. On the 4 hour time frame there is also regular divergence visible, further suggesting a sell.

LeeThompson97 LeeThompson97 GBPEUR, D, Long ,
GBPEUR: GBP/EUR Ascending Triangle Formation
89 0 2
GBPEUR, D Long
GBP/EUR Ascending Triangle Formation

Clear ascending triangle pattern recognisable on daily and weekly timeframes, there is a bullish bias using the 3 drives pattern. With this in mind, and the recent rejection of the lower support line, use a break of the counter trend line to confirm the trade. Ideally price should eventually break out at the to of the triangle, however expect a retest of the lower ...

LeeThompson97 LeeThompson97 USDJPY, D, Short ,
USDJPY: USD/JPY Short at Break of Counter Trend Line
33 0 2
USDJPY, D Short
USD/JPY Short at Break of Counter Trend Line

Price is currently ranging in a bearish channel, a series of lower lows and lower highs suggests that a new lower low is expected. Price could create a lower high whilst breaking to the upside of the trend line, therefore hitting our stop loss. To mitigate this, entering after the break of the counter trend line (best seen on 4hr) and the support area should cause ...

LeeThompson97 LeeThompson97 GOLD, D, Short ,
GOLD: Gold Short - Head & Shoulders and Fib Retracement
80 0 2
GOLD, D Short
Gold Short - Head & Shoulders and Fib Retracement

On daily TF, a head and shoulders pattern is in play, this has formed after a rejection of the major bearish trend line. The targets for this pattern would be below the blue trend line, so expect resistance at this area. If the blue trend line is broken, price should test the major bullish trend line, which is where I have placed the next profit target (TP 2). The ...

LeeThompson97 LeeThompson97 GBPAUD, 180, Short ,
GBPAUD: GBP/AUD Short - Clear Regular Divergence
57 0 3
GBPAUD, 180 Short
GBP/AUD Short - Clear Regular Divergence

Price has reached the top of a bullish channel where regular divergence is clear. Last time we had regular divergence at the top of the channel price fell to the bottom of the channel (as shown). I expect price to do the same thing here. Stops should be placed above the channel in case of a breakout and targets should be placed at previous resistance or the bottom ...

LeeThompson97 LeeThompson97 USDJPY, D, Short ,
USDJPY: USD/JPY Sell at Trend Line & Hidden Divergence
34 0 1
USDJPY, D Short
USD/JPY Sell at Trend Line & Hidden Divergence

Good opportunity for a sell. Price has reached a bearish trend line for a third time now, wait until a daily close for confirmation of the rejection. This is also supported by the fib retracement 61.8 zone and hidden divergence where price is making lower highs and RSI is making higher highs. Stops can be placed jus above the trend line.

LeeThompson97 LeeThompson97 UKOIL, W, Short ,
UKOIL: Brent Crude Oil - Break of Counter Trendline & Fib Retracement
95 0 2
UKOIL, W Short
Brent Crude Oil - Break of Counter Trendline & Fib Retracement

Looking at the weekly time frame, price has failed to break a bearish trend line. Within this, on the daily time frame, price is currently at the bottom of a counter trend line. If this is broken, we should see large bearish movement towards the 28.00 level. This target is where an ABCD pattern completes and where a fib extension completes. The overall trend is ...

LeeThompson97 LeeThompson97 GBPUSD, D, Long ,
GBPUSD: Upcoming General Election & Brexit Related Analysis (GBP)
92 0 3
GBPUSD, D Long
Upcoming General Election & Brexit Related Analysis (GBP)

See chart for fundamental and technical analysis. I have given a timeline of Brexit events and the reasoning for its effects on the Pound Sterling. The combination of technical analysis and a strong likelihood of a Conservative landslide (Soft Brexit) should see the GBP surge, and hopefully see GBP recover to its pre-Brexit highs.

LeeThompson97 LeeThompson97 GOLD, D, Short ,
GOLD: Gold Short - Major Confluence
79 0 2
GOLD, D Short
Gold Short - Major Confluence

Since the start of 2016 price has been inside a wedge, price is currently at the top of this wedge and thus provides a nice short opportunity. Price has failed to break the top resistance/trend line level, furthermore this area falls between the 0.618 and 0.786 fib extension zone. Stops should be placed above the resistance level. In my opinion this set up has 3 ...

LeeThompson97 LeeThompson97 EURGBP, D, Short ,
EURGBP: EURGBP Sell - Breakout to Monthly Support
19 0 1
EURGBP, D Short
EURGBP Sell - Breakout to Monthly Support

Price has touched the 0.8344 resistance level numerous times now. I have placed a Stop Entry Order just below the resistance level . At this entry, a breakout would be confirmed. If this happens, price should head towards the monthly support level , thus providing a good target (0.79815). I have placed a stop loss just above the resistance level at 0.8377, giving ...

LeeThompson97 LeeThompson97 AUDJPY, 240, Long ,
AUDJPY: AUD/JPY - Channel Rejection
25 0 3
AUDJPY, 240 Long
AUD/JPY - Channel Rejection

Price has once again reached the bottom of a bullish channel. This has provided a key area of rejection. This provides a good opportunity for a buy as there is no indication that price will breakthrough. Ideally, targets would be at the top of the rising channel. However, there is a clear area of resistance midway up where a bearish trendline and line of ...

LeeThompson97 LeeThompson97 USDJPY, 240, Short ,
USDJPY: USD/JPY Short Setup
68 0 3
USDJPY, 240 Short
USD/JPY Short Setup

The last candle closed with a major rejection of the trendline that has proven to be an area of resistance. This could be a good opportunity for a sell, however price is also at a smaller support trendline (in blue). With this in mind, it may be better to wait for price to be rejected by this line and then short at a higher price. The bias for this wedge is to ...

LeeThompson97 LeeThompson97 EURJPY, D, Short ,
EURJPY: EUR/JPY - ABCD Pattern Bearish Continuation
62 0 1
EURJPY, D Short
EUR/JPY - ABCD Pattern Bearish Continuation

Price has reached the top of a bearish channel. The last closed candle indicates a reversal, this is also in the same location as Fibonacci retracement zone (although I have not drawn this on). Stops can be placed above the trendline, my profit target is at the 116.238 area. This target is at the bottom of the channel, where the ABCD pattern finishes and where ...

LeeThompson97 LeeThompson97 USDCAD, D, Short ,
USDCAD: USD/CAD Short - Trendline Rejection
27 0 1
USDCAD, D Short
USD/CAD Short - Trendline Rejection

Price has touched the bearish trendline (blue) 3 times now, price has reached an area of resistance (as shown by the yellow box) and is also in a key Fibonacci retracement zone. Finally, on the daily timeframe we also have a reversal candle, which closed at the trendline. With this in mind, this is a great opportunity for a short as stops can be placed just above ...

LeeThompson97 LeeThompson97 GBPJPY, 120, Short ,
GBPJPY: GBP/JPY - MAJOR CONFLUENCE for a Short Position
40 0 3
GBPJPY, 120 Short
GBP/JPY - MAJOR CONFLUENCE for a Short Position

As shown by my recent trade setup (Linked to this idea), price broke out of a wedge and is now retesting the lower trendline. There is a key area of resistance that price has not broken yet (shown by the blue box), key fib retracement levels can also be found in the same zone, the lower trendline also falls within this resistance zone and finally there is a double ...

LeeThompson97 LeeThompson97 USDCHF, 180, Short ,
USDCHF: USD/CHF - Sell at Resistance
20 0 3
USDCHF, 180 Short
USD/CHF - Sell at Resistance

Price has reached a key resistance level and also has a closing reversal candle. Price is currently in an uptrend, but price is likely to retrace to the trendline. Stops can be placed above the resistance zone.

LeeThompson97 LeeThompson97 GBPEUR, 240, Long ,
GBPEUR: GBP/EUR Long - Bullish Channel
49 0 1
GBPEUR, 240 Long
GBP/EUR Long - Bullish Channel

This is a good opportunity for an entry to go long. GBP/EUR is currently ranging in a bullish channel, price is currently at the low of the channel and so far has failed to breakthrough. Stops can be placed just below the trendline and targets are at the high of the channel. Resistance may be found at the bearish trendline that is forming within the channel (as ...

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