Gbpusdbuy
GBPUSD profit target reached, prepare to sell againSell below 1.3044. Stop loss at 1.3081. Take profit at 1.2935.
Reason for the trading strategy (technically):
Price shot down towards our profit target before bouncing up once again. We now prepare to sell as price is approaching major resistance at 1.3044 (Fibonacci extension, horizontal swing high resistance) and we expect a major reaction off this level for a drop to at least 1.2935 (Fibonacci retracement, Elliott wave theory) which needs to be broken to confirm a major drop.
Stochastic (34,5,3) is testing 96% resistance and price is definitely in strongly overbought territory.
GBPUSD Reaching Sell Zone H4 Time Zone Harmonic patternGBPUSD is reaching a good sell zone must watch it carefully and taking good position Harmonic pattern almost completed .
Thorough consolidationAfter the broad drop of the Great Britain Pound-US Dollar Forex pair, it made a notable recovery with the help of the incoming Britain election and Dollar's decline from the NFP disappointing numbers.
Through the following days, the GBPUSD pair formed several 'bullish' inside bars at a notable support suggesting further push upwards.
GBPUSD While buyingDo you want a secret to successful trading? Buy against the classic technical analysis. Because a good trend channel is seen downwards with a sharp drop, it can be a trap
I buy 1.28750 . SL 1.28580 TP 1.29700
Remember
-Never risk more than 2-3% of your balance on a single trade. And If you are a beginner 1%.
-A Single or few trades result is not important. Whats important is the net return at the end of the month, quarter and year.
Long GBPUSD for medium term: momentum, weaker USD, short squeezeMomentum in Cable has flipped to the upside, breaking a major 2 year downtrend.
CFTC data shows speculators still heavily net short GBP.
This speculators will get squeezed out, this latest break of 1.30 is just the beginning .
Sterlin sets up for a relief rallyHi guys,
today gbpusd is coming back to retest a daily support/resistance zone, therefore i want to look for some opportunities on the lower timeframe. On the hourly there's a nice pinbar that tells me there's buying pressure. Besides, price has also created a double bottom with RSI divergence that you can see on the chart above.
The consequent break of structure to the upside makes me think it could go higher on this short timeframe.
You can use the 2618 strategy to buy the 618 retracement, with stops below the low and target1 at the retest of the highs, target2 to be determined.
If you want to share your thoughts or ask questions, feel free to comment below.
Otherwise, see you in the next chart!
Sterlin sets up for a relief rally!!Hi guys,
today gbpusd is coming back to retest a daily support/resistance zone, therefore i want to look for some opportunities on the lower timeframe. On the hourly there's a nice pinbar that tells me there's buying pressure. Besides, price has also created a double bottom with RSI divergence that you can see on the chart above.
The consequent break of structure to the upside makes me think it could go higher on this short timeframe.
You can use the 2618 strategy to buy the 618 retracement, with stops below the low and target1 at the retest of the highs, target2 to be determined.
If you want to share your thoughts or ask questions, feel free to comment below.
Otherwise, see you in the next chart!
