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Gbpusdbuy

GBP/USD Long Entry UpdateHey Guys! I'm still waiting for a pullback to 1.3313 and perhaps even further with the stop loss at 1.3163 and the main target at 1.3748 for a Long Entry. Like I mentioned in my previous post, there were no signs of long strength on the price rise up on the left side of the chart, thus as expected, we got a small pullback down. (Remember! Just because price goes up, it doesn't mean there is long strength in the market) . Moreover, there were 2 areas in recent price shown on the chart that created extreme short strength, so although price rose, there's still a little bit of short strength left in the pair for the time being. (Great! I want that pullback to 1.3313!) At the current moment, in order to confirm more short strength, I want price to reach the 4h pivot low shown on the chart. With the idea being, if the upward trendline break out and immediate break back, which shows long strength can be stopped out at the pivot low, that will tell me short strength was able to override that long strength = extreme short term short strength. So this week I'll just be watching if that 4h pivot low is reached so we can get a pullback down to the entry level at 1.3313. Ok! That's it! I'll keep you guys updated! Have a great week! Ken Disclaimer: This is not Personal Financial Advice.
Long
by TradingForexPriceAction
3
GBP/USD Long Trade UpdateHey Guys! The mid-road long entry did not set up yesterday...So I'll still be waiting for a pullback to 1.3313 and perhaps even further with the stop loss at 1.3163 and the main target at 1.3833. Moreover, since the fake 1H double bottom confirmed short term short strength, I'll still be expecting a pullback to my long entry level at 1.3313. I explain some possible intraday long set ups that formed on this move up also in the video! Check it out! I'll Keep you Guys Updated! Have a great day! Ken Disclaimer: This is not Personal Financial Advice.
Long
by TradingForexPriceAction
1
GBP/USD Long Entry UpdateHey Guys! I may be getting into the GBP/USD Long Trade early. I was going to wait for a full pullback to 1.3313 and perhaps even further with the stop loss at 1.3163 and the main target at 1.3833. However today, it is possible that short term long strength is kicking back in. Thus I may be getting in early. To explain: The 1H chart formed a fake double bottom. (I can't explain what fake price patterns are here. ) If price can reach the target height level at 1.3545 "before" reaching the 2nd bottom's pivot low stop loss level at 1.3436, this will signal short term long strength and a possible mid-road entry for the original weekly long setup. If price signals this short term long strength, I will enter at 1.3545 with a stop loss at 1.3436 and the main target still at 1.3833. Now, since this is a mid-road entry, I will be watching the lower time frames for any short term short strength to form(Trendline Break out recoveries/price pattern confirmations) in which if they do form, I will abort the long entry immediately. Moreover, one of the key levels I'll be watching if this long entry is confirmed is a 1h downward trendline. (A break out long of the trendline, then an immediate break back in = short term short strength) If short term short strength is confirmed, I will abort the long entry. Moreover, if this mid-road set up doesn't form, I will revert back to my original long entry set up. (Long entry if price pulls back to 1.3313 and perhaps even further with the stop loss at 1.3163 and the main target at 1.3833) That's it Guys! Lets see what happens! Have a great day! Ken Disclaimer: This is not Personal Financial Advice.
Long
by TradingForexPriceAction
4
GBPUSD Long Bias. Waiting for a Pullback for Long Entry.Hey Guys! The Bias for the GBP/USD on the Weekly chart (Medium Term Bias) is long. In other words, price is likely to reach 1.3833 before reaching 1.3163 I am willing to take a long entry if price pulls back to 1.3313 and perhaps even further with the stop loss at 1.3163 and the main target at 1.3833 As always, this is assuming the lower time frame price action retains its confirmation of long strength. Have a great day guys! Ken Disclaimer: This is not Personal Financial Advice.
Long
by TradingForexPriceAction
2
GbpUsd- Best place to buyAs I argued in my previous analysis, GbpUsd is bullish both on the weekly time frame, with the price confirming and reversing from 1.32 support and on daily, with the pair breaking above the corrective flag that took 6 months to form. At this moment cable is in a slight correction, and this can be a good opportunity for bulls to open long positions in the direction of the overall trend. The best place for this is the confluence support zone around 1.36 and this scenario is negated if the price fails to stay above 1.35
Long
by Mihai_Iacob
23