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Greatbritain

GBP/JPY Analysis for Week 27 - Trenline OutbreakDISCLAIMER: Hi everyone, this is just a log book for me on applying everything that I have learned and continue to learn as I go along. That being said, I do not advise you to base your trading on these "ideas". I have been watching this pair for a long time and have been highly interested as well as profited from it. The wat the price action has moved and formed a beautiful structure is just amazing and is what you usually see in text books. It seemed to have moved this week so lets take a look. Weekly: I had drawn a resistance line at 148.058 a long time ago () and noticed that the price would reach the area and bounce off to hit the ascending trendline. The price has tapped the resistance level 3 times and the next obvious move was to drop towards the trendline, which is what it did in July. Daily: So taking a closer look we can se that the price bounced off the resistance area and this past friday 11th of August, the price broke the ascending trendline. Something expected after hitting the resistance area. So on a daily outlook here is what Im thinking: The price is gonna catch a lot of traders selling and selling because of the outbreak. I will not sell just yet. I will wait for traders to take their profits, thus bringing the price up to the ascending trendline and previous support area around 142.770. At that level is where I will wait to see the price action and possibly sell. 4hr: Alright so the price has moved below the MA. I will wait for the price to tap it and sell, maybe take a small scalp on it. Either way in the big picture I feel this pair as a sell.
Short
by EdwardFabianRamirez
2
GBPNZD Bounce Back or Keep Dropping?DISCLAIMER: Hi everyone, I'm new to trading and this is just a log book for me on applying everything that I have learned and continue to learn as I go along. That being said, I do not advise you to base your trading on these "ideas". I've been looking at the British Pound/New Zealand Dollar pair for a while trying to think of where it might go. It's been on a down trend for quite a while now. Now the price actually dropped to a new low on November 8th since 2009, with the whole Brexit of it all. Now, seeing as how thats a new low, will it bounce back on the long run or keep heading south? On one hand since the 8th of this month, when it hit that new low it seemed like it would bounce back. But the price didn't go too high, it hit a previous resistance (blue line) from September 28th. But on the other hand, the pair set up a support level as well (orange line). Looks like I'm gonna have to show a little patience. If it doesn't break that resistance, if it breaks support, and my indicators are strong on the new trend, I'm gonna look for a short. As far as looking to see if it will be a buy that might take a lot more time and patience for something that might not come.
by EdwardFabianRamirez
1
Daybreak for the Pound/New Zealand?Good morning GBP/NZD, time to rise and shine :) My case for a strong bullish reversal on this Extremely Valuable Pair {EVP} is due to the fact that: (1) It has completed a multi-month Harmonic Wave Formation and (2) the GBP/NZD is positively correlated with FX:AUDNZD and that pair is trending very aggressively into a multi-year bullish uptrend due to both Australian Dollar strength and a weakening New Zealand Dollar. Time to get those Buy entries in ladies and gentlemen because the Bulls are out to play! I have no clue what the impact of a "Brexit" might do to the Pound but for now I'm surely long above 2.1170 due to NZD weakness. Around May 02, 2016 we should have a clearer picture whether price will push higher or continue in a downtrend. Remember the "Brexit" decision is on June 23rd so until then we trade what we see on the chart. Around June 27th another harmonic time interval occurs so we shall see what happens.
Long
by FractalEyeZ
Bad news for shorts?Volume means activity. These volume spikes concern me - something happened. While I will never find out what exactly that was, judging by the fact that the first spike occured almost on the very top (left shoulder, even before I was bearish on this pair - which makes sense) and that we have just had the second spike at the bottom, after the pair fell considerably, I suppose... someone made a lot of money. Now why this someone has just closed his/her profitable short here? I guess he/she knows something. But what? Actually I really want cable to drop to 1.35 and below, if possible. Sorry, good people of the UK. Hi, Mr. Soros! P.S. Spikes like these can also be found of other pairs. And put together they make little sense ;)
Short
by UnknownUnicorn135402
1