M6B1! trade ideas
British Pound - Breakout of RangeA ton of markets have been range bound these past few months and we're finally starting to see evidence that some of these ranges are going to break. British Pound is providing a great opportunity short as it breaks below it's range. A lot of potential to the downside with no solid demand coming in until much further below. Could see a breakout today and into next week. Get those shorts ready!
British Pound - one more leg lower or already bottomed?Being British it is difficult not to be gloomy about one's currency, especially when you look at this chart going back to the global financial crisis. However, while the red count would suggest another leg lower it also suggests that this could be a final leg lower to complete the move. For the sake of an alternative I have included a blue count that suggests the bottom is already in with the bottom coinciding with the 38.2 fib extension of waves (i) to iii). Now which one is it?
6B1if the line L1 is broken with force there will be a probability of going up.
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DISCLAIMER: As a trader you should consider your own risk:reward ratio and do proper lot sizing according to your margin and leverage level. Not every idea is a valid trade. This analysis is a trading idea, not a trading signal for you.
BRITISH POUND FUTURES (CONTINUOUS: CURRENT CONTRACT IN FRONT)The market is in a critical position.
At the moment there is a great probablity that it could returns to the level 1.2587 . but if it ever breaks with power the 1.2340 . it will return to the level of 1.1994
GBP / USD potential long if more buying builds down here and demand is respected long term buy. on watchlist .
