Expanded flat bullish scenarioEsteemed analysts and traders,
I hope this correspondence finds you in good health and high spirits, prepared to tackle the upcoming week with renewed energy. I extend my best wishes for your continued success in all your business endeavors. It is worth noting that success in trading is largely dependent on the consistent definition and adherence to one's own rules.
As a supporter of the Elliott Wave Principle, I consider this methodology an invaluable tool for market analysis. After three years of personal experience, I have developed my approach by combining this principle with meticulous consideration of different market scenarios. I strive to avoid market surprises by maintaining a range of market prospects, which enables me to recognize the market structure forming with 100% accuracy.
I am pleased to share my analysis with you, with the caveat that I do not provide buy or sell signals. My perspective on idea analysis is entirely impartial, and if my analysis meets your standards, it may serve as a guide to making an informed decision.
For your reference and comparison, I have attached my previous analysis of the same market. All the details of my analysis are clearly labeled for ease of comprehension. Nonetheless, familiarity with the Elliott Wave Principle theory would facilitate an understanding of the analytical idea.
My study of the Elliott Wave Principle took nearly three years, during which my understanding and experience with this invaluable tool have grown. My progress thus far is a testament to the legacy of Ralph Nelson Eliot, whose genius has provided the foundation for my achievements. May he rest in peace.
I express my gratitude for your continued support and kindness, and welcome your comments and critiques.
May my analysis be a valuable asset to your business journey, and I remain sincerely yours,
Mr. Nobody
GBP (British Pound)
Sell GBPAUD UK Interest Ratethe GBP/AUD pair on the M30 timeframe presents a potential shorting opportunity due to the presence of a bearish pennant pattern.
Potential Short Trade :
Entry: Consider entering a short position (selling) below the broken support trendline of the pennant after confirmation. Ideally, this would be around 1.9000 or lower if the price continues to decline.
Target Levels:
1.8871: This target is achieved by measuring the height of the flagpole (initial downtrend before the pennant) and projecting it downwards from the breakout point.
1.8807: This is a further extension of the downside target, based on roughly twice the height of the flagpole.
Stop-Loss: Once the entry point is confirmed, place a stop-loss order above the broken support line of the pennant, ideally with some buffer around 1.9042. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards.
Thank you
British Pound can rebound down from seller zone to support lineHello traders, I want share with you my opinion about British Pound. Looking at the chart, we can see how the price made an impulse up inside the downward wedge from the support line to the resistance line, breaking the resistance level, which coincided with the seller zone. But later EURGBP turned around and in a short time declined to the support level, which coincided with the buyer zone, breaking the 0.8615 level one more time. Soon, the price broke the 0.8550 level and fell to the support line of the wedge, after which rebounded and in a short time rose higher than the resistance line, exiting from the wedge pattern and soon broke the 0.8550 support level again. After this movement, the price continued to grow inside the upward channel, where later GBP reached a resistance level, but at once rebounded and made little correction. A not long time ago price grew back to this level and at the moment trades very close. So, in my opinion, the British Pound can enter to seller zone, after which turns around and starts to decline to support line of the upward channel. For this case, I set my target at 0.8585 points. Please share this idea with your friends and click Boost 🚀
GBPUSD is heading to 1.24200-1.24000 Zone(5/9/2024)Right now, GBP/USD FX:GBPUSD is facing the BOE interest rate descision.
current momentum is bearish and the price has broken a trend line.
We believe the price move bearish until 1.24000.
If you like it then Support us by Like, Following, and Sharing.
Thanks For Reading
Team Fortuna
-RC
(Disclaimer: Published ideas and other Contents on this page are for educational purposes and do not include a financial recommendation. Trading is Risky, so before any action do your research.
GBP/CHF BEST PLACE TO BUY FROM|LONG
Hello,Friends!
We are now examining the GBP/CHF pair and we can see that the pair is going down locally while also being in a downtrend on the 1W TF. But there is also a powerful signal from the BB lower band being nearby indicating that the pair is oversold so we can go long from the support line below and a target at 1.136 level.
✅LIKE AND COMMENT MY IDEAS✅
Could price reverse from here?GBP/JPY is rising towards the pivot, which has been identified as a pullback resistance, and could reverse to the 1st support.
Pivot: 195.45
1st Support: 191.71
1st Resistance: 197.37
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
GBPUSD - Short Trade Idea, Analysis, and ICT EducationHi friends,
I hope everyone is doing well.
In this video I share my analysis and bias with GBPUSD, I show you how I come up with this analysis, and I advocate additional confluences in your analysis as well as demonstrate what I mean. But please note, I am using ICT Concepts. If you aren't familiar, then it wouldn't make sense to you. However, you will probably have your mind blown anyway. No other concepts allow you to predict price action with accuracy before patterns form.
As you know, I've been expecting a stronger USD and Weaker XXXUSD pairs. We have quite a few confluences going on which give me faith in this bias and narrative. You'll have to listen to me ramble in order to find out the sauces that I use for my bearish dish. Apologies to the lazy folks ;)
I implore you to go into your own charts and study the same thing. If not, you'll be cheating yourselves.
- R2F
Rising towards 61.8% Fibonacci resistance?GBP/JPY is rising toward the pivot, which acts as pullback resistance, and could potentially reverse from this level to the 1st support.
Pivot: 195.453
1st Support: 191.718
1st Resistance: 197.379
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
GBPAUD forming a bottom?GBPAUD - Intraday - We look to Buy at 1.8925 (stop at 1.8875)
Price action looks to be forming a bottom.
Bullish divergence is expected to support prices.
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible.
Preferred trade is to buy on dips.
Bespoke support is located at 1.8925.
Our profit targets will be 1.9045 and 1.9075
Resistance: 1.8985 / 1.9050 / 1.9110
Support: 1.8925 / 1.8895 / 1.8835
Risk Disclaimer
The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy.
Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
GBPUSD H4 - Short SignalGBPUSD H4
Similar outlook to XAUUSD, we have already shown a response to our indicated sell zone, albeit, just at the wrong time. GBPUSD pinned into our 1.26 confluence zone following the cluster of data we saw on Friday.
If this zone sees another test of 1.26, this could be something we look to short, in line with USD strength.
Beginning of a reversal...been waiting for GU to turn back bearish. Now it looks like its ready to start making that turn. At this point just waiting for further confirmation going into London session. If we can manage to break above 1.258 before London open then I will expect for price to make a new high for the week. if we maintain below that zone until after London session then I will look for a test and reject at that level.
EURGBP to find support at market?EURGBP - 24h expiry
The medium term bias remains bullish.
The sequence for trading is higher highs and lows.
A lower correction is expected.
Preferred trade is to buy on dips.
Bespoke support is located at 0.8565.
We look to Buy at 0.8565 (stop at 0.8545)
Our profit targets will be 0.8615 and 0.8625
Resistance: 0.8595 / 0.8610 / 0.8625
Support: 0.8565 / 0.8550 / 0.8535
Risk Disclaimer
The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy.
Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
GBPUSD is approaching a significant resistance area.Hey Traders, in today's trading session we are monitoring GBPUSD for a selling opportunity around 1.25900 zone, GBPUSD is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 1.25900 support and resistance zone.
Trade safe, Joe.
GBPCHF BEARISH PROJECTIONGBPCHF has retreated towards the minor support near the 1.1334 level. This reversal indicates that the price has begun to recognize this level as a buying opportunity, suggesting a strong, steady pullback towards the initial resistance observed previously.
Following this pullback, we anticipate another bearish movement as the highlighted zone is respected as a significant selling area.
Could GBP/JPY reverse from here?Price is rising towards a resistance level which is a pullback resistance that aligns with the 38.2% Fibonacci retracement, and could reverse from this level to our take profit.
Entry: 193.522
Why we like it:
There is a pullback resistance level which aligns with the 38.2% Fibonacci retracement.
Stop loss: 195.104
Why we like it:
There is a pullback resistance level which lines up with the 61.8% Fibonacci retracement.
Take profit: 190.309
Why we like it:
There is a pullback support level
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GBP/USD: Analyzing Recent Trends and Market SentimentBuilding on our previous analysis (Link Below), the GBP/USD exhibited a bearish candle on the daily timeframe last Friday, following three consecutive days of positive closure. This shift occurred amidst mixed market sentiment, later influenced by positive economic news from the US, particularly the Core Personal Consumption Expenditures data. Despite briefly retreating below the 1.2500 mark by the end of Friday's session, the technical outlook suggests that the bullish bias remains intact.
Our strategy involves capitalizing on potential sell limit levels indicated on the charts, while also preparing for a potential new bearish impulse. As a precautionary measure, we've adjusted our previous position to break even. In the optimal scenario, the price may continue to ascend towards the 50% Fibonacci levels, where a confluence of factors awaits. This includes the Point of Control (POC) volume, the 200-period Volume Weighted Average Price (VWAP), an oversold condition on the Stochastic oscillator, a bearish order block with Future Value Generation (FVG), and potentially, a correlation with seasonal price movement.
By carefully considering these technical and fundamental indicators, we anticipate a potential shift in the market sentiment towards a bearish direction.
Previous Idea:
EURGBP - Price can make small correction and then start riseHi guys, this is my overview for EURGBP, feel free to check it and write your feedback in comments👊
Recently price bounced from support level, which coincided with support area, and declined to support line of triangle.
GBP turned around and made strong upward impulse to resistance line, breaking $0.8610 and $0.8545 levels.
But then price started to decline and in a short time fell to $0.8545 level, breaking resistance level again.
Then GBP fell to support line of triangle and at once bounced up, thereby exiting from triangle pattern.
Also, price broke $0.8545 level and now it continues to rise, so, in my mind, British Pound can make correction move.
After this, price will turn around and start to move up to $0.8590 points.
If this post is useful to you, you can support me with like/boost and advice in comments❤️
GBPUSD Long Opportunity After Level Breakouts:Based on current news and pending level breakouts, it's essential to recognize the evident levels on both the 1-hour and 15-minute charts. Additionally, the daily chart indicates a significant level. Therefore, it's advisable not to initiate a long position until the levels on the 15-minute and 1-hour charts are breached. Also, it's prudent to wait for the outcomes of the upcoming news releases concerning the USA, including the unemployment rate and ISM service PMI.