DOLLAR - OVERBOUGHClear bearish divergence has formed
strong dollar slows down global growth even further = end of story
trade with care
USDGBP
GBPUSD DAILY SHORT 450pipsGood shorting opportunity on GBPUSD pair. Price have made double top price in area for short. RSI overbought. GBP appreciated significantly I think its time to depreciate. GOOD LUCK
New highs this week. On the chart, I have added the three major supports. The USD index is heading bearish this week making the GBP/USD pair bullish. I expect the market to move upwards after hitting the first support. The first target is just below the previous resistance at 1.4216 although I expect the bulls to smash through.
Happy Easter and Trading guys.
USDGBP short opportunity with bearish divergence Per DXY analysis (Check the previous post) this pair has the most co-relation to the DXY price movement per last week. Dxy potential will fall after re-testing descending channel resistance, this pair has also reached near to the descending channel whereas a lot of fib zone exists. DXY has already broken the counter line to the down side, this pair is yet to break the counter trendline. Potential entry will be break of the counter trend line to the downside up to the descending channel support, this pair is also in a descending channel on higher time frame.
>> GBPUSD << March 29th >> Long „Swing“ Setup <<Hey Guys and Welcome,
GBPUSD retraced over 60% of previous Week price action, we are following „Mid“-term Trend with a good RR.
Strong bearish price action this week agains the trend, we are following mid term uptrend and expecting a skyrocket after retesting
our Uptrend Levels.
Long: 1.40224
Sl: 1.38958 (120 Pips)
Tp: 1.41773 (150 Pips)
Feel free to Comment and Discuss my Trades.
Have a Great Week :)
Alan
It looks like GBP is finally recoveringHi followers,
Sorry, no crypto this time, but a chance for a great profit with GBP.
GBP broke out its long-term downtrend. It looks like GBP can finally recover.
Buy: 1.326
SL: 1.32
Good luck!
GBPUSDBearish Gartley forming and fib retracement as well as RSI confirm this. The first resistance is the sell limit line second resistance is stop loss. The lower horizontal line is potential support it can reach.
EURUSD_Downtrend underway?_Areas of interest_Follow TElphee!Long term New developments in EUR/USD show a forming 3 prong head and shoulders, crown, ghost pattern or whatever you'd like to call it. If the formation plays out, which is looking very likely, statistics say the move back down should be equivalent to the move up. Because of this formation, long-term, I believe it is likely EUR/USD has room to move down to the general 1.1400 area.
Mid term - Our focus is making sure this ghost pattern stays intact. Currently, in the right shoulder, I believe we can begin shorting. Unless price breaks the high of our right shoulder at 1.18800. Should price break 1.18800 we become neutral. The ghost trend stays intact unless we close above the left shoulder high at 1.19109.
Short term - 4 hour chart on the right - Short trades can be opened with stops above 1.18800 area with profit targets around the general 1.17100 area.
Areas of Interest. - Confluence around the 1.18365-1.18500 level appears to hold the greatest potential for reversals into next week. Downward 1.17300-1.17100 will serve as support.
Fibonacci retracement indicator running from the last high forming the right side of the head to the current bottom of the right shoulder very accurately puts key levels of support/resistance at
.382 @ 1.18770
.500 @ 1.18365
.786 @ 1.17970
Key levels forming the left shoulder are marked by the gray dotted lines.
Left shoulder High 1.1909. Lower High 1.18500.
Left shoulder Low 1.16622 Higher Low 1.17100
Trade XXX/USD pairs down and USD/XXX pairs higher. Because of the power of this head and shoulders setup, my perspective has changed on DXY, as you'll notice on my previous post that is linked. Trends change, so must the traders
Happy trading!
Tanner Elphee – Self-made Technical Analysis. Certification not held but desired after college. 5-year market enthusiast with experience in Forex, Futures, Stock, Options, Cryptocurrencies and Nadex. Also, a full time college student majoring finance working full time with a small dealership selling parts. I work diligently to pursue my dream of professional trading. Trading View is my trading journal. Right now, I’m posting a series of live trades and documenting them in real time. Initial deposit of $4500 made on 10/20/2017. Please share with me your expertise! Very eager to learn! Find me on LinkedIn/Twitter
Disclaimer: This information is my own opinion and should not be considered investment advice. Please consult a professional before trading.
Long term MONTH BEARISH USDGBP divergence + MACD crossoverHey guys.
As you can see, there is a big bearish regular divergence on the 1M USDGBP chart.
Along with the MACD crossover, we can except a big bearish reversal starting for the next months.
On short term (W and D), i see two bullish hidden divergences.
D bullish hidden divergence is confirmed by MACD crossover + starting uptrend + hanging man on 13/10/2017. I think we can except a bullish trend over next days.
W bullish hidden divergence is not yet confirmed by MACD crossover, but should be confirmed in the next weeks.
Tell me your point of view here !
NOTE : i'm a trading begginer and i'm just here to give you a fresh market point of view. Not all my trades are good, but i try to do my best.
USD/GBP support and resistance, retracement at 0.5I believe the market will retrace back to the previous support line because it going in long upward channel.
Looking at the previous bars, we can see that the support line was once a resistance line several times. Last time the market hit the support lone, it shot up quite considerably so I can safely assume it will do that again because markets like to follow a pattern (hence the technical analysis)
We have two options: (aggressive or conservative approach)
Aggressive: We can wait for the market to go above the support line and test the depth of the support which will hopefully shoot up.
OR
Conservative: We can wait a while for the market to retrace back to the support line when it completes it "pattern" and buy from there on.
USDGBP: Each way Election trades for Experienced Traders onlyUSDGBP: Stooging around waiting for election result with quite a lot of stored energy waiting for release - some good trades are imminent here but be careful of whipsaw in early stages - for experienced traders only, this one.
GBP Sterling Index: Either way the next break is worth followingGBP: Sterling Index BXY: GBP is caught in a near term tight decision range: when it breaks, probably as early as tomorrow but doesn't have to be, it will be worth following via USDGBP
USDGBP: Sell the next dollar rallyUSDGBP: The head and shoulders top signals further medium term weakness for the dollar down to 0.7452. Look to sell into next dollar rally.
GBPJPY CYPHER bearishWhen we have a broken trendline we always looking for a pullback-retest of the trendline or for an advance pattern formation in order to enter the market at the direction of the break.
Here there is a pending Cypher pattern formation that gives us the reason we are waiting for.
SL and TP points as in the chart
