GBPUSD head and shoulders, this is the start right now so if it sticks to it you might want to go long. Remember this is a news-driven market though so be careful!
Looking at a breakout of the EURNZD Triangle on the 1 hour chart.
Right now it is a pretty strong triangle so it will be interesting to see where price heads after.
We have had quite a few fakouts in triangle patterns recently across pairs so watch out for any massive bearish or bullish moves then wait for the reentry before entering if it seems real.
GBPAUD is in a long term uptrend and has just pulled out of a short downtrend. I feel that we are going to break out of this triangle that we have got within the mini uptrend and once we break out I will place an order.
- We are hopping around the 200 SMA on the daily and market it waiting for clear breakthroug. I am expecting a fake-out first though so watch for...
Looking at a triangle breakout in CADJPY, I'm thinking a breakout to the upside hitting some consolidation levels around the 83.500 area.
While we are trading below the 200 SMA we have popped up and down a lot so I feel like the market is waiting for a clear decision. As is common after the first breakout expects it to come back in and fake for that to be a fake...
Looking at a short in EURUSD, we are sitting in a descending channel, right now it does not look strong enough to look for a clear breakout opportunity but I will keep you guys posted!
- We have formed the start of an inverted U while in a downtrend.
- On the daily, we are trading below the 200 SMA.
- On the 4 hour, we are into the Ichimoku Cloud (This indicates...
I am looking at a bit more of a push to the upside before a fib retracement down to maybe as far at the 0.6800 level - You should enter short once a few candles downtrend has started, my short entry lev is just an estimate.
Look at moment levels before exiting short trade once you are around the TP level.
For the long trade while I have set that entry-level you...
GBPUSD is likely to push up back to the key 1.2400 level and if we get some more good UK news then it could be sent even higher.
We saw the fib retracement already from the uptrend of the last few weeks so I think we will just push and maybe even breakthrough.
Once we hit 1.24500 though you may want to set your SL to break even to lock in the profits
I think that GBPCHF might continue to the upside a bit before hitting a bit of the Aug resistance level and bouncing off to retrace the recent large upside breakout from the triangle pattern it had been in for a few days.
I feel that the pair may find support at one of the fib levels before continuing and reaching the highs of early AUG again.
Watch out for the...
