GBPUSD Awaiting Break of TriangleThe USDOLLAR is currently selling off across the board and setting up for the beginning of a bearish trend. The GBPUSD is in a classic triangle pattern from early this year. Once we break price should move up to 1.28 as the first target. We will be looking to buy once the break happens.
Gpbusd
GBPUSD_ Reaching Major Structure LevelThe market reacted after Britain PM Theresa May confirmed article 50 will be triggered at the end of march 2017 which cased pound depreciation in the open of the market to day , nevertheless potential long position could be executed based on technical analysis mentioned in the chart , as may be short trend would be expected base on uncertainty of the trading between EU union and Britain.
GBPUSD. Cypher pattern completingWe already have 3 confirmation points for a bullish Cypher pattern, which is forming at key support/resistance leves: if price arrives to 1.2954 as expected, it could be a very good level for entering long positions
For now:
Shorts
Entry point: current values.
SL: 1.3460
TP: 1.2954
Longs
Entry point: 1.2965
SL: 1.29
TP1: 1.3140
TP2: 1.3195
TP3: 1.3255
GBPUSD 4H - Bullish SwingGBPUSD 4H - Will be bullish until hitting the first target. Once breakout, it will continue to hit second target. However, it would be bumpy going up. So, be careful with the retracement and set your stop loss appropriately.
Happy trading everyone. Please leave your comment and other ideas.
NZDUSD broke above 0.7000, eyes on RBNZ today$NZDUSD broke above 0.7000. Investors are awaiting today’s decision of the Reserve Bank of New Zealand's (21:00 GMT) and we think the outcome will be a very close call.
We raised the target on our short-term NZDUSD long to 0.7085, but we also locked in profit at 0.6910. We keep our bullish view on the NZDUSD in the long term. The target in the investment part of the portfolio is 0.7300 growthaces.com
Read more about our trading strategies and check profitability: growthaces.com
GU long with trendchannel and 78,6% - Atleast 1:5 RR (wide SL)GBPUSD is lining up with a very good long on both 1h and 4h chart. We have our trendchannel with 2 test of low and 2 test of high, with a possible bounce for 3rd test of low, plus a 78,6% fib retracement in almost perfect allignment.
I've decided to go with a wide SL below the prev swing low, but this is ALOT of room to work with, and you could easily narrow it down (since the trendchannel SHOULD be respected).
For our target, then we have resistance overhead at 1.467, which looks plausibel in relation with the trendchannel