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GBP USD PRE NY SESSION ANALYSIS (SHORT)Ok so from what I am seeing, it looks as we will be going short for the beginning of the week. Ill explain below: as we saw last week, gbp tested the upper resistance multiple times and has gotten rejected each of those times. For a short position, i need to see gbp hit the top resistance once more and get rejected, obviously waiting for confirmations from the candle sticks. Price action is all you need to pay attention to. But indicator wise, the stochiastic on the 15M chart is oversold so there could be a short to scalp pretty soo. HOWEVER, if we break past that top resistance, i want to see a break and a retest of the top level, and i will have no problem going long. If you guys found this idea useful go ahead and like it so i know to make more. Trade safe yall, i will be posting more soon
Short
by fastboiijd
GBPUSD NEXT SESSION IDEAS (Long)Ok so gbp was acting up today not gonna lie, but thats ok ,we gonna make our pips regardless. My idea is more on the long side although i have a set up for either side; heres why: ] - Had a massive push upwards this morning - Price is being supported at the lower level i have marked - Price has been stubborn to go down today, yet when it moves up it shoots up - MACD and Stochiastics are nearing confirmation zones if not hit already (crossover on MACD lower level, and Stochiastic in oversold conditions down below. I would like to see price bounce from that bottom level to the target i have place above, however if price breaks this support, we can safely assume the move will only continue downwards since we are at relatively high price for this short term period
Long
by fastboiijd
GBPCAD BULLISH TRENDHI, I THINK THAT GBP/CAD COULD BE HEADED TOWARD THE UPSIDE. THE PRICE IS OVEREXTENDED TO THE DOWNSIDE = RETRACEMENT/BULLISH TREND START. THE CANADIAN DOLLAR IS ALSO PRETTY WEAK SINCE THE BEGINNING OF JULY & I THINK THAT THE BRITISH POUND WILL REGAIN POWER THIS WEEK. THE H12 DEMAND ZONE IS ALSO LOCATED ABOVE A STRONG DAILY SUPPORT, THAT'S WHY I THINK TO WE COULD SEE A NICE MOVE TO THE UPSIDE FOR THAT PAIR. ON THE COMMITMENTS OF TRADERS REPORT, INSTITUTION ARE LONG ON GBP & SHORT ON CAD. CORBEAU
Long
by Corbeau_FX