Elliot_DeBrett

Elliot_DeBrett

following the DXY coming into a supply zone, the EUR is also over bought, approaching top of a channel and a larger supply zone. could we get a nice 100 pip drop soon?

Elliot_DeBrett

will be posting my EUR/USD idea soon, the DXY has its first potential rejection as we approach a big level of supply in the market indication a bit of strength back into the USD

Elliot_DeBrett

Similar price action to GBP/USD before Brexit! Chanel move up, double top, break and retest of the trend, and fall back to the beginning of the trend. this is my outlook for the next few months. And I wanna short GU the battle of the weakest pair!

Elliot_DeBrett

this is my second favourable idea of the three I've just posted

Elliot_DeBrett

so similar to the other idea but we would be ignoring the break out zone, probably less likely but we plan for what the market gives us, this is also the 50% fib level from the high to the low. I think we could get a final push before we get a retrace back to 1.27 and even lower

Elliot_DeBrett

HI guys so last week my post was banned as I posted a link to my youtube to give a more in-depth look into GBPUSD short. there were several attempts to take this short. I ended up taking 1 long and 3 shorts, all short positions moved 50 odd pips into profit then took me out for a break even. Anyway as we broke above the zone on the daily and the weekly, I will be...

Elliot_DeBrett

similar to GU. corrective price action over the last week, lets see what happens when we go into this week I'm still bearish, would like to see price reject one of these zones, especially to match the down trend. potential for 300 pips get a 4:1 RR

Elliot_DeBrett

so those of you that saw my analysis on GU last Sunday would have seen how the trades played out, caught 320 pips 3 played out and one break even. GU has now struggled to break above and below so we are still just corrective (forming a deeper bearish pattern) my bias is still short and will see how Sunday/Monday price action moves. still 150 pips to take in my eyes. 3:1 RR

Elliot_DeBrett

smaller time frame probabilities set ups

Elliot_DeBrett

longer term analysis, potential for GU to head back down to 1.22 see if we can move how I've forecasted. price could correct around current levels and develop a deeper structure for a while before continuing down, lets see. I would like to see a break above the current range to change my bias to long again.

Elliot_DeBrett

weekly we hit massive support zones, price is at the bottom of a channel which is creating a wedge, if price break out of both channels i see price pushing atleast 200 pips up

Elliot_DeBrett

after hitting tops and breaking structure. we have now formed in my eyes a bigger bear flag. we are reaching the top of the flag with and ascending type feel. so i expect we could follow back down to the lows. this pair doesnt go far on the long term, been ranging for ages but if we get a drop simular to the impluse that has just come before then should be a nice trade.

Elliot_DeBrett

price being squeezed. respecting the trend line, still hasnt broke for me to be convinced shes going down but then also not putting any higher highs, yesterdays close was a rejection and today the 4h completly retraced off of the push down. target 1.32 or even back to 1.34 if we get some movement

Elliot_DeBrett

Weekly time frame we have an impulse followed by many months of corrections, daily time frame we have pushed down to form a bigger double bottom with a decending nature. im expecting EURGBP to push up to 0.88

Elliot_DeBrett

EURAUD in my view is coming to the down side, but im looking for that bigger time frame head and shoulders. but at the moment we still have a way to go. price has given us a tight bull flag after heavy impluses today on the EURO. so expecting this to creep up 70-100 more pips before we see a sell off.