Gu
eu time for a breakoutits time for a breakout to the upside for euro vs dollar , with gu already leading this move and a super long dollar bullride that yet is begging for correction. I am expecting a break to the upside here.
eu tried and failed a break of its current trend three times past 2 months. We are seeing another attempt right now with eu trading at the upper resistance of its bigger trend. stay tuned.
this break, once confirmed, would also deliver us a new uptrend in eu.
GU Price Action for WC 1107 - Short upon LTF BoS confirmationMTF analysis are in the anchored notes for M,W,D,H4, AND H1
Annotations/ Notes and Markups are on the charts
KEY LEVEL = Tried & tested S&R zones
S/R zones are labeled as S/R zones
High Impact News / Potential price catalysts: (My time is GMT +8. Adjust according to your timezones)
TUE, 11/08/2022, (NO SPECIFIC TIME) - CONGRESSIONAL ELECTIONS (USD)
THUR, 11/10/2022, 9:30 PM - CPI NEWS (USD)
FRI, 11/11/2022 , 3:00 PM - NOV 2022 GDP STATS (GBP)
FRI, 11/11/2022 , 11:00 PM - NOV 2022 Prelim UoM Consumer Sentiment (USD)
Free Signal, Pass That Challenge GU - Buy 1.13100-200My analysis involves a blend of several concepts but they are all price action based.
This week I am expecting more bullish pressure. I am no longer a seller at this point and may
not be one for the next couple of seasons as we move into the election cycle, and I feel this
may bring a risk on environment as the US moves into it's election phase.
But for the meanwhile I am targeting these entries.
GBPUSD Sell (Short) OpportunityGBPUSD is at a good sell zone for a drop to the next support area.
GBP fundamentals are still very bad and the UK is now in a recession.
The dollar currency index appears to have reversed to the upside after a deep dollar retrace - this should fuel further dollar strength and GBPUSD should fall as a result.
GBPUSD Daily TF analysisGU looks to have made a skew double top on the daily time frame on a resistance zone, and on the EMA resistance, I still think that we will sell this pair as I said yesterday. They came to look for stop losses, but painted a better picture by doing so, confirming a strong resistance 1.13272. I am in a sell from 1.11972 from last night. So will see how the rest of the day plays out.
4hr GBPUSD Patterns in patternsAs you can see marked out on my charts, the yellow arrows show the top of a massive double-top structure. Both these structures have tested and could not break the 200ema(white line, red arrow) which acts as a very strong support\ resistance.
The second leg of this double top is forming a head and shoulders at the 200ema resistance, and if you look closely, the head of the head and shoulder structure is actually a double top. If you go into smaller time frames you will also see these structures within structures. Its magic lol.
Boost me if you like what I post. Dont be shy
GBPUSD Longs..4H is bullish.. Pro trend trade opportunity.. We have a 4H S/D flip zone.. price should take the 4H weak swing high as it failed to make a new low..
Downside is price is already at premium (not well priced for a long trade), but worth a try. Follow risk management you won't get affected that much.
next look at M15, we have a refined demand zone with promising inducement above it. Very valid trade.
#Trade_at_your_own_risk
GU flipped into bearish #2 (update)GBPUSD had nice bull rally from 1.3565 to 1.14952 with perfectly creating HH and HLs which later flipped into bearish at 1.14952.
It failed to break above HH but later breaks below HL, also it broke below the Rising wedge pattern which is considered as a bearish chart pattern that points to a reversal after a bull trend. Target of Rising wedge pattern are usually at where it started from which is around 0.618 fib level and yet not completed.
It confirmed the flip of trend by making LL and LHs, currently is in downtrend channel .
Entering short when candle confirms the break of ascending trendline would be perfect with SL at above previous LH which is 1.3% only. It would be low risk high reward play.
I'll do 3 TPs i.e. TP1- 0.5 fib, TP2- 0.618 fib and TP3 would be at 1.3565. Which we closed previously
GU retracted back to ascending trend-line which we broke previously and have updated on post 1 to add new shorts from that range
TP 1 : 0.5 fib
TP 2 : 0.618 fib
TP 3 : bottom of trendline