Huge selling pressure seen with last weeks 300+ pip move. Previous trend line has been smashed on the daily charts. It is important to check the daily charts with this pair, as they respect support and resistance levels extremely well. Sells only from here for the next few weeks.
Fundamentally, the pound is becoming weaker due to breaking their rules for Brexit,...
We can see compression with the two trend lines. The blue zones are what I would suggest as good entry points. The bottom on we would look at price action on the 4 hour/1 hour candles for and entry. For the top blue zone, we will need to look for the price to break out and retest for an entry.
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I will be looking for Short/Sell entries on this pair next week. Forming a nice channel and rebounding perfectly on each side. Going to wait for the pair to straight out after the Non Farm Payroll news, however a good chance to gain some pips. I will be risking no more then 20 pip (1.5%) and looking for a 200-300 pip take profit (15%)
EURUSD has been stuck in the channel, and is at the perfect place for a long entry. I will be waiting for the London session on Monday before entering here. I will be risking 20 pips max, and jumping in on all the pullbacks for a nice compounding trade. Lots of pips to be made!
Waiting for this pull back to finish before entering. Expect the price to hit the support level again before pushing up again. GBPJPY has been rising for weeks and has still got plenty of fuel to go. Buys only for GJ. Manage your risk, watch the news and trade safe.
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XAUUSD is forming a clean wedge pattern. Do not be fooled into thinking this is a descending triangle. Let's keep in mind the fundamentals of Gold with the current condition of world debt.
For this, I would look for entry's only on the major support level. We may see some fake-outs so be aware and manage your risk.
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Gold is still in demand, and will be until next year. The world is still in debt and that won't be changing for much longer. For both fundamental and technical reasons, Gold will be rising. Please message me for help with trading.
We can expect to see all GBP pairs to push up for new highs next week. we're finally done consolidating and can expect to be catch some air!
We expected this to happen sooner..
If you trade this, please manage your risk! Message me on more details or general help!:)