About meHi, my name is Laurent Scherer, I am currency trader and the founder of Lorbeer Investment.
For more information about the mirror trading service of LobreerInv. please visit: www.lorbeerinvestment.com
These higher highs pattern tend to break to the upside. Price continuously builds up pressure until it "explodes"
Maybe the asian session will bring some decision on GBPUSD.
Long term I am however still bearish on Sterling as long as the exact T&C of the Brexit or not clear...
At the 240M the second shoulder is about to form. Looks like price will form a candlestick pattern on the 240M which is a Double Top on the 60M.
Shorting the second shoulder for a "neck break"
Going long in support until the rebound to the neck then
Short trend continuation
Just sold AUD/USD into the direction of the underlying downtrend.
- Price is currently trading at a major downtrend line
- Price continuously trades lower. Indicated by red & pink support lines
- 240H shows kind of triple top + Candlestick pattern
There is nothing new under the sun.
On the weekly this pair is currently in a downtrend. Price is resting at a critical resistance level. The will tell if either:
- the 382 holds, hence the pice forms a double top and then continues its downtrend or
- the price will form a complex pullback in form of an ABCD pattern and hence provides an even better short entry...
After the break out of the low prices one may plan to bet on a continuation of the dollar weakening. I would love to see a 38.2% retracement into this nice resistance area in order to hop up a continuation trade
Nice high probability , multi argument short opportunity on the daily. In line with a short trade on EUR/GBP that I opened yesterday.
Euro showed some strength since the first round of the #frenchelections2017 and the US dollar surely suffered after the #Trumpleaks. These fundamental facts pushed the EUR/USD with some significant momentum into an interesting...
EUR is pretty strong on many pairs but on almost all pairs there is some major resistance ahead.
On EUR/GBP I took an early countertrend trade. Price is no entering a resistance area on the 240M timeframe.
Nice area for countertrend traders who chase a 382 retracement
On the break of the downtrend line I am pretty comfortable in taking partial profits on the BatPattern completion. Hedging for a short day trade and then building again for the upside.
Trading plan is important but I also believe in active trade management!
I love trading forex due to many reason one being the high volatility. You almost always get second chances for entries and exits. Prices tends to oscillate around their "fair value" al to more than in Stocks or ETF´s. There is almost no pair the rallies 50% in a year.
While there are scenarios for early exit, one should only execute such planed exceptions right?...
I really like Monday´s and planning my upcoming trading weeks! Sorting out strategies and plans how to target the different pairs on my watchlist.
There is always so much excitements! fFamous German writer Herman Hesse quoted once: "Jedem Anfang wohnt ein Zauber inne" (Every beginning hold its own magic)
Waiting to get long Crude at a cheap level for some time. Price didn´t yet made it into my entry area around 45$.
Recently price showed 2 technical signs of short-term downtrend which made me confident to see lower prices. 1) break of uptrend line and 2) break of last swing low.
Looking for price to hit 45$ before rally may continues toward 60`s