170 pips potential drop on GBPCAD...GBPCAD is currently in the weekly resistance zone and we have seen the price making a reversal from the zone showing potential sign of dropping towards 1.78000 zone.
Pounds
GBPUSD SHORTS A falling flag was projected on Gbpusd by me and I was expecting a fall, which it did earlier today, my expectation for it today is for this pair to retrace to the 50 EMA and my resistance zone and sell to my 200EMA of 1.26564.
GBPUSD Outlook for the Week AheadThe GBP/USD currency pair has recently seen bullish pressure take control, with bears unable to invalidate the crucial demand/support zone at 1.23823. Over the past two weeks, the 1.25044 supply/resistance level has successfully held, prompting the question: what's next for the GBP/USD pair? To answer this, we'll analyze the daily, 4-hour, and 1-hour candlestick charts.
The daily chart reveals a significant supply/resistance level at 1.26080, near the psychological 1.26000 price level. The bullish trend is evident as long as the 1.25044 level holds, with the price above the 20-day EMA and MACD zero level. Should the 1.25000 zone fail to hold the price, a push down to the nearest demand/support zone at 1.21821 is expected.
Similar bullish trends are observed in the 4-hour and 1-hour charts, with the price trading above the 20-period EMA and MACD zero level. The multiple timeframes support the uptrend, with the next week's price movements being closely watched.
However, the technical outlook for GBP/USD remains uncertain, with market sentiment being the key driver. The range between 1.2350 and 1.2550 offers potential range-bound opportunities, with a daily candle close above or below the range top or bottom being key for bullish continuation or a deeper correction to the downside. Retail traders are currently short on GBP/USD, but a contrarian view suggests a short-term bullish bias.
While no major news is expected for the GBP next week, the USD has several high-impact news events, such as the ISM Manufacturing PMI, JOLTS Job Openings, ADP Non-Farm Employment Change, FOMC Statement, Federal Funds Rate, and Unemployment Rate, among others. These events could potentially affect the GBP/USD pair, making it essential to monitor technical indicators and upcoming news to identify potential shifts in market sentiment.
GBPJPY sell short term Hi All,
We are looking at opening a sell position on GJ, as we are trading the range of this market. On the D1 we are see price rejection from the previous top of the rectangle box.
So selling to the bottom of the range makes sense. our short term bais on this pair is still bearish into the summer.
entry, tp and Sl marked.
Like follow and share.
Many Thanks
GBPUSD, H1 projectionin what looks like a dicey setup, we still expect price to drop further.
line Y may be retested. and as such, one must be careful on when to take position in order not to risk too much.
GBPUSD Short positionConsidering the range formed a lot of liquidity in upper zone, institutions are trying to hit SLs from retailers. When the zone breaks, the price will likely go back down to follow the trend. The SL considers possible drawdown to make sure it does not get hit with a ratio of 1 to 2.5
GBPUSD LONGPrice has come back to OB where price made a CHOCH taking out 2 highs.
Has only touched the top half of the OB but there seems to be more liquidity left within the wick.
Price has also created 2 liquidity zones which were done intentionally.
LONG GBPUSD pending orderok...........GBPUSD currently tested its new highs in a long time now after the long term down trend due to the economic instability in pounds and to the advantage of dollar ,creating a break in structure (downtrend). currently on a retest at key support zone ....obviously the banks are involved in the upward momentum of the market ...(impulse upward )....on hitting the support zone i expect a quick rejection to the upside as marked up.........
The Pound Looks Very Strong GBPUSD Green oval is where the price should start moving upwards,
On a higher timeframe it has broken out of a large falling wedge
The curve I have plotted should hodl
Nicely aligns with the Fibonacci circles plotted also
The yellow line is the 200 day MA
GBPAUD, found fibo level as supportGBPAUD has reached important support zone which also act as 1.618 fibonnaci level, therefore we can wait for buy confirmation and use the 1.87640 target zone in the chart
[GBPAUD Short] 10 August, 2021 - Roger V Trading Ideas10/08/2021
GBPAUD
Entry Resistance level idea:
1.88650 - 1.89200 Resistance
TP Support level idea:
1.86000
Final SL for all Short positions:
1.90000 Resistance Level
Comment:
12AM mid-night, a trading idea just came into Roger V's head after looking at the GBPAUD weekly chart.
- A risk that must be taken
- A Stop-loss that may happen
- A Take Profit may also happen
What would happen?
This idea basically has a very short range of stop-loss from the entry point and a wide range for the take profit.
The risk ratio of 1:3 with three higher lows with its Doji signal.
Roger V would take the risk and try for the adventure! Woo!
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(Note: The forecast above is an estimation of the resistance/ support level for the entry, TP, and SL. For more precise positions will depend on the shape formed with the candlestick at the time.)
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Disclaimer: ALuoTradingJournal does not provide any personal advice or general advice. This is only a journal to keep ALuo in noting the trades and what the market is going on as a trading journal. ALuo will not take any responsibility for any profits or losses. Please trade at your own risk.
[GBPAUD Short] 10 August, 2021 - Roger V Trading Ideas10/08/2021
GBPAUD
Entry Resistance level idea:
1.88650 - 1.89200 Resistance
TP Support level idea:
1.86000
Final SL for all Short positions:
1.90000 Resistance Level
Comment:
12AM mid-night, a trading idea just came into Roger V's head after looking at the GBPAUD weekly chart.
- A risk that must be taken
- A Stop-loss that may happen
- A Take Profit may also happen
What would happen?
This idea basically has a very short range of stop-loss from the entry point and a wide range for the take profit.
The risk ratio of 1:3 with three higher lows with its Doji signal.
Roger V would take the risk and try for the adventure! Woo!
--------------------
(Note: The forecast above is an estimation of the resistance/ support level for the entry, TP, and SL. For more precise positions will depend on the shape formed with the candlestick at the time.)
--------------------
Disclaimer: ALuoTradingJournal does not provide any personal advice or general advice. This is only a journal to keep ALuo in noting the trades and what the market is going on as a trading journal. ALuo will not take any responsibility for any profits or losses. Please trade at your own risk.
Pounds is still ready to go higher a triangle pattern formation is clearly spotted on GBPCHF chat, we expect this corrective structure to be followed immediately by a rapid continuation of price to the upside
GBPJPY H1 - Short Trade SetupGBPJPY H1 - Here is the analysis update for GJ too. Eyes peeled for those rejections.
GBPUSD, Pounds is set for new HighA zigzag pattern was identified on the chart which signifies a corrective wave, impulse move is expected to follow immediately.
Thanks for liking and following the anlaysis
BULLISH FLAGGBPCAD
The pair has been on a down trend and has been respecting the descending trend line as the resistance where it has been pulling down from ,at this juncture the pair has currently broken the previous weeks HIGH after a very long mini consolidation in that zone giving us a double bottom which price respected and bounced off from ....Currently on the previous weeks HIGH price is giving us a chart pattern formation which is trying to signal to us that price is about to move massively and possibly break the descending trend line to begin a new trend which would be a new UP TREND...Aggressive traders know what to do Conservative know what to do.
Define your self and your trading style figure out your personality
Leave me a comment in the comment section let me know what you feel about the analysis and possibly why you think other wise
GBPJPY ANALYSIS UPDATEFOREXCOM:GBPJPY
Hello Traders, drop a comment below to ask questions or make suggestions. Remember that market is reactive and not predictive.
GBP/USD buy setup GBP/USDattempts to retrace the decline from the start of the month, but the Relative Strength Index (RSI) undermines the recent rebound in the exchange rate as the indicator continues to track the bearish formation carried over from December.
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