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Gbpusdtrade

A Cautious Trend Continuation Idea Bullish Indications • As per DOW’s theory Price action is registering Higher Highs and Higher Lows. • Candle Stick pattern show Inverted Hammer is followed by Bullish Engulfing candle which indicates Bulls are in control. • Support zone is at 1.23386 which can help price bounce up to continue bullish trend. • Linear Regression Channel with standard deviation 2 is used as trend line Support and Resistance. It is evident Price has respected median line and moved back up. • Support Zone confluences with Fib Level 78.6% and price has respected it. • Formation of Bullish Pennant , which indicates continuation of current trend. • As per Seasonal Analysis, BXY remain Bullish until closing of 2nd week of January 2023 with an increment of 2.35% from December 2022. It is safe to say it can sustain to close bullish for January Month. • On the other hand, as per last 10 years seasonal BXY remain slightly bearish in January month. • Macro Analysis on 1 Day Time-Frame trend is Bullish. • Micro analysis on 15 Minutes Time-Frame Trend remains Bullish. • Hidden Bullish Divergence spotted on RSI oscillator. • Average Directional Index , which measures the trend direction strength and its value is at 31.96 which indicates trend is strong. Bearish Indications • Price action is approaching Resistance zone at 1.24103 which can bounce back. • DXY index analysis shows it to be testing a major support area which can provide a cushion for a bounce back which can result in trend reversal upon confirmation. • AB=CD Harmonic Pattern indicates a reversal in trend is possible in area of 1.24526. But we can be only sure of reversal of trend if DOW’s theory is valid for the trend. • 10 years Seasonal analysis of DXY show it remain Bullish in January. • BXY index analysis shows it to be approaching a major resistance zone which can bounce back the trend. Analysis Takeaways: As per facts available to us and projections we can assume that it is quite possible that trend will continue to be bullish with a short-term bounce back from resistance area and again will continue as biased. However, we can’t reject the possibility of trend reversal into a bearish trend as per market sentiments so we need to be cautious and safely take what we can until that happens. Bias : Long Plan (Long) Entry Long: 1.23677 (Fib Lvl 88.6%) TP: 1.24543 (Fib Lvl 100%) TP2 : 1.25936 (Fib Lvl 1.27%) Stop Loss: 123.066 (Fib level of 78.6%) Risk/Reward: 1:3.94 Manage your Risk Accordingly and Remember Stop Loss is your friend. If this post was useful to you, do not forget to like and comment.
Long
by adnanmagsi
3
GBPUSD Short RecapIdentified an opportunity during London Session. Price was looking to take out an old high Identified the legs of an ABC structure As it did we looked for a creation of structure before the liquidity grab Moved to 15 Min After the Liquidity grab, we looked for price to break past the creation of structure for a market structure shift MSS or CHoCH Moved to 5 Min to ID FVG Wait for price to enter FVG and set SL above recent High Set TP at or near point B of wave Targeting 1:2.5 RR risking 1(or 2) percent of account Emotion: Groggy as I randomly woke up between 1:30-2 am ID Session Time and likely pair Confident in what looked to be forming Surprised that I woke up to what looks to be a perfect set up Frustrated due to sleep time, and inability to understand/read to FXBook calculator Trade MGMT: Entered minutes later than expected due to calculator difficulties Added the wrong lot size by a few as I was unfamiliar with mobile MT5 Created feelings of FOMO that I was missing money or wouldn't get an accurate reading with what looked to be a perfect setup Finally figured out the correct lot size and that I added 1.00 lot initially, and only needed .13 more to risk the %1/2 intended Was tired and didn't remember if I risked 1 or 2 percent Added and additional .13 position far past the initial trade, Looked at the additional .13 as a scale in opportunity, which is something I'd like to be apart of my overall plan
Short
by KennedyW12
GBPUSD : Current Situation & Technical , Fundamental View#GBPUSD - At present the MARKET SENTIMENT for GBPUSD is slightly on the DOWN SIDE. All MARKETS including STOCKS and STOCKS may be UP due to MARKET RISK being ON in the past days. It affects the POUND greatly. GBPUSD may be slightly UP this week. Anyway, because the FED is a bit HAWKISH, the XXXUSD PAIRS are getting slightly downward PRESSURE. - The price can definitely move up to the SUPPORT LEVEL below the GBPUSD. The reason for that is because there is a bit of a DOWNSIDE BIAS in the MARKET for USD. But after that GBPUSD can BUY until 1.2900 LEVEL. Before that, you can SELL at 1.2148 LEVEL. So go for GBPUSD LONG ENTRIES. Be sure to pay attention to the UK GEOPOLITICAL STATUS. If that MARKET SENTIMENT changes and STOCKS and COMMODITIES start to DOWN, it is risky to BUY GBPUSD. So keep an eye on the MARKET SENTIMENT.
by benny_marshall
20 Reasons for buy GBPUSD 🔆MULTI-TIME FRAME TOP-DOWN ANALYSIS OVERVIEW☀️ 1 ✨Eagle eye: bearish trape at yearly time frame at 38 years support level with a long wick 2 📆Monthly: Multi-month a strong downtrend with a lot of momentum, and currently, the market is in a corrective phase and also has some open area for upside continuation 3 📅Weekly: with a panic bottom break, previous resistance also retested the 38 fib level last week, indicating another strong upside move. Weekly structures also change in character 4 🕛Daily: Daily, a clean uptrend about to start their 3rd impulse move so that we can have an edge ride with it but with proper Risk to reward a 50% chance to win 😇7 Dimension analysis 🟢 analysis time frame: Daily 5: 1 Price Structure: Bullish 6: 2 Pattern Candle Chart: rounding and a classic flag pattern 7: 3 Volume: high volume at every bullish candle, so bulls are in full control this time in the market 8: 4 Momentum UNCONVENTIONAL Rsi: Momentum is sideways, yet as the previous momentum is bullish 9: 5 Volatility measure Bollinger bands: middle band support also in the bullish phase 10: 6 Strength ADX: total sideways 11: 7 Sentiment ROC: GBP beats USD since 2 month ✔️ Entry Time Frame: H4 12: Entry TF Structure: bullish 13: entry move: right corrective 14: Support resistance base: previous wick order block 15: FIB: wait, yet ☑️ final comments: we can buy 16: 💡decision: Buy 17: 🚀Entry: 1.2180 18: ✋Stop losel: 1.2085 19: 🎯Take profit: 1.2837 20: 😊 Risk to reward Ratio: 1:7 🕛 Excepted Duration: 1 month
Long
by Optimum369
GBPUSD is preparing for a rise!Currency Pair : GBPUSD Possible direction : Bullish Technical Analysis : Price has formed a bull flag after strong impulse to the upside. Currently after grabbing liquidity from support price is preparing to breakout from the bull flag. Upon breakout of the bull flag, on the retest of the previous resistance as support. A bullish trade is high probable. Possible trade recommendation : Bullish as per chart sketch Press like button if you enjoy. Risk Disclaimer: Trading foreign exchange on margin carries a high level of risk, and is not suitable for all investors. Past performance is not indicative of future results. The high degree of leverage is dangerous and can work against you as well as for you. Before deciding to invest in foreign exchange or any market you should carefully consider your investment goals, level of experience, and risk tolerance. It is EXTREMELY LIKELY that you will sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. No representation is being made that any account will or is likely to achieve profits or losses. Past performance is not indicative of future results. Individual results vary and no representation is made that clients will or are likely to achieve profits or incur losses comparable to those that may be shown. You acknowledge and agree that no promise or guarantee of success or profitability has been made between you, and Forex Trading Wizard. Do your own research and talk to a professional financial planner in order to be aware of all the risks associated with foreign exchange trading and investing and seek advice from an independent financial advisor before risking any capital.
Long
by ForexWizard01