Get started

Cable

GBPUSD | Range | How To Work ItLooking for buys within this range at the moment. Things are looking like what we spoke about in this week's market prep. Ideal scenario We attack buy-side liquidity, then we see a minor sell-off from UK close to Asia Open. Right now the activity within this range looks bullish because we have a void above price and the price has been clearing the sell-side orders. This means the buy-side should be cleared next. Price is like Pacman, all it wants to do is eat orders. I'm actually still bearish overall on this pair at the moment, depending on how this progresses things could change, (targeting 1.3800) I wouldn't be surprised if we retraced all the way up to those two red zones, then see a heavy dump off, Keep in mind GBP has some red folders on Thursday morning. Might be safer to work within this until then, then let the news do its thing.
by elevatedinvestor
GBPUSD - BullishGBPUSD in a significant uptrend, with the pound showing strength today across the board. D1 timeframe illustrates the overall bullishness more obviously. Price has managed to close above the H1 100 and EMA, and so 1.4000 seems reasonable to reach at some point today. As illustrated on the chart, the 1.4000 psychological level is acting as a noticeable area of support/resistance. If momentum can break this then I believe we can move much higher. the 1.40857 area then appears to be the next level to watch. Let's see how this plays out!
Long
by MMQ_FX
EURUSD// Long OpportunityReasons not to enter...yet: 1. Haven't had the daily reversal close yet. 2. News hasn't been released yet, and it could be the opposite of what is expected. 3. Possible liquidity grab before continuing up. As of right now, these are the only reasons I could see that would prevent entry. In terms of news, it is possible that expected results might be exaggerated in effort to force a spike or surprise. However, I for EURUSD, I don't think there will be any surprises. I couldn't find much reasons not to enter...this seems like a good buy. Let me hear your thoughts. Previous Analysis linked.
Long
by N0ST0PL0SS
GBP - 🐂BULLISH but for how long? 🐻Hey, I'm back! It's been a while took some time off the screens, I am happy and proud of my longer term positioning within GBP taking hits on profit targets - longer term target before 1.43 areas, and I did state yr ahead outlook I am thinking 1.47-1.50! Nice monthly area. In my year ahead outlook for 2021- If you're interested in the video , Privately message. Over night, we had a GBP head higher towards 1.42 areas - Now we did get positive news starting this week easing lockdown, but the key is we COULD be out of lock down before June 21st! Incredible right?! if that happens! Less craziness.. Now if you're active follower of mine you would know - I am bullish GBP and I've been selling EURGBP combined. Well, I've given you my longer term target one of them...However, be careful don't go buying all in at these levels I'd like actually GBP to have pull back to some key areas. Fundamentals: - GBP Monetary Policy Report Hearings - Chief Economist Haldane Speaks & Gov Bailey. - Fed Chair Powell Testifies (Yesterday, we had Powell testifies- Dovish the usual 'far away from employment and long term inflation goals' but we've got this reflation trade situation - Yields high...! ) - RBNZ Gov Orr Speaks (RBNZ - Yesterday, Monetary Policy Statement. Take a look at AUDNZD, It was a great short opportunity - Prolonged Monetary Stimulus) Technical: - More of a complicated chart... - Pattern: Within Channel or wedge formation (Monthly - double bottom) - Support: 1.41405, 1.41210, 1.40760, 1.40430 - Resistance: 1.42255, 1.42606, 1.43120 Be aware of the over night spike, if that gets taken out, further bullish momentum to continue. Overall we are still in bullish territory until we are out of the channel i've drawn , then I'd target 50 EMA areas, which add confluence to Fib area. (FOLLOW YOUR OWN TRADE PLAN FOR FURTHER CONFLUENCE) Bonus: BTC -It was at high areas of 58k areas, to 48/49k. A Very volatile asset, I did state it would head lower when it was at highs. What goes up, comes down eventually! I actually think we could perhaps head lower and if it doesn't I rather be late to the party - It isn't really an asset I'd invest a high % of my portfolio in due to the high volatile movements. I am not holding BTC Positioning at this current moment of time. I am out until I am ready to get long again. Key tip: “Patience is bitter, but its fruit is sweet.”― Aristotle Have a good day, Trade Journal (Just a trade idea, not a recommendation)
by Trade_Journal