Short GBP/USD on weekly chart Stop Loss = 1.3462 Entry = 1.3012 TP1 = 1.2562 Two positions with the same stop loss and x1 target for the first position The stop loss of the second position to breakeven when the first position hits the target1. The second position has no target, only exit Risk= 2% of account capital (1% each position)
SELL GU IN THE SELL RANGE (Trade at your own risk)
4H CHART EXPLANATION: In the 4H chart we observe that price started a big bearish movement since it broke the Ascending Trendline. We was expecting a little bounce at the Support Zone but price did not do it and broke down. Now the next Support Level is at 1.26730, so we will wait for a confirmation of the move to take any position. Updates comming soon! ...
Got a decent short in on this pair last week but i am still leaving my stoploss where it is incase of any pullbacks that may occur. Overall my bias is bearish for the pair.
On the chart, we observe that the pair has risen from the level of 1.28. According to the Elliott wave theory, when it reached the level of 1.3320, the turn began. We believe that the pair will continue the downward movement and advise you to take short positions. Set support levels and take profit near the 1.3080 and 1.3025 marks.
Today the sentiment is that there will be significant pressure on the pound. Trumps comments that the Brexit deal is a good deal for the EU and that the UK may not be able to trade with the U.S. have initially trigged sterlings sell off this morning. Those comments have been watered down to an extent by a UK spokesperson clarifying that the UK can make trade deals...
Bears are protecting this area and preventing an upside breakout.
After a clear rejection on the bearish trendline for a new lower high, it is now making the pullback towards key fibonacci level, targetted at the extension level confluence with the key level for an inverted HNS pattern. With double bottom in mind, it is expected to break the bearish structure to validate the inverted HNS pattern.
Been a while since I posted, but here is one potential trade. Trade smart and enjoy your weekend.
Possible short opportunity on GBPUSD if price remains above 1.2750 on the daily, can also trade the pull back which will yield a lot of pips.
Our pair again reflected from the level of 1.3150, after which it headed down. Our technical indicators show the sale. To date, we expect the FOMC statement and the publication of the Fed's interest rate decision. We can assume that until this point the dollar will continue to strengthen against the pound. We expect that the pair will test the level of 1.3080 and...
Looks like a nice trade , but be careful as their are lots of H&S forming at the moment , see my other posts.
At the moment, we see on the chart that the upward movement has slowed and after the rebound from the resistance level, the price is preparing to test it again. The price did not reach the next level which is at 1.3490, and technical indicators have already turned for sale. We assume that during today's trading may be a slight upward movement, after which the...