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Structuretrading

EURGBP: What Are You Anticipating With This Volatile Pair?I am a swing trader, as you can probably tell from the timeframes I use in my posts. However, I do believe that EURGBP lends itself better to day trades or position trades, if you can stomach the movement. Considering it has made, for me, surprising reverses just when you think it would push further, I offer a couple of scenarios for both a sell and buy possibility. I do see EURGBP selling further but this is a pair you want to be prepared for movement in the opposite direction as well. Game plan, ready! What would be your move?
by rhashedaw
1
Awaiting Shorting OpportunityThis week, I have been closely monitoring the movement on GBPUSD. While there are similarities to EURUSD, I am still waiting for an aggressive shorting opportunity. As of now, there is no iconic trading setup available, so I am patiently waiting for a retest at the key resistance level of 1.2368 before making any moves. For more conservative traders, it may be wise to wait for a double top with an RSI divergence as an additional confirmation before engaging in the trade. The initial stop is at 1.2462 (-94 pips) or 940 USD/lot, while the first target is seen at 1.2124 or 2,440 USD/lot. I cannot stress enough the importance of planning your trade and not blindly following anyone else. Keep this in mind when considering your options.
Short
by RaynLim
Yemi_Fx1 | Short for AUDNZDPrice has been trading and moving in an ascending channel so far, currently it's approaching an area of value + the upper dynamic trendline of the channel. If the structure hold, AUDNZD will be experiencing a move downward. I'll be considering A Risk entry type at the top of the bearish structure at an area of value. Reduced risk entry after the impulsive back down followed by a tight flag or break of the flag. Share your thoughts in the comments and show your support for the idea by liking it. Thank you for your help.
Short
by Yemi_Fx1
#USDCAD will it continue going lower??As far as market structure concerns we have 1H timeframe bearish impulsive move which broke the low and as a result formed a Lower low. since then price is in bullish corrective move which by the way shows price non-intention of going higher (otherwise it would be as an impulsive move) Now price is at 4H timeframe Clean Break area which provides important resistance and also we had one very strong reaction off of this area which showed us how powerful is this area. now we are going to test that area once more and hopefully we can see the liquidation from above the previous wick so then we can open our short position. Just remember price closing above the arrow means that the idea has failed and we need to wait for more confirmation.
Short
by mohemati
1