FXPartisan

FXPartisan

Lot's of time we do know something; For example when a trend line is broken, price may come back and touch the line for another time before continuing it's new direction. Trading these pullbacks is less risky and could be so profitable. But doing something is a complete different story while knowing it is another one! And that's the skill needed to be a profitable...

FXPartisan

Amazing... target of the smaller "cup and handle" almost achieved, Is another handle going to shape?

FXPartisan

no comments...

FXPartisan

no comments...

FXPartisan

Also consider the attached idea.

FXPartisan

Also take care of 0.67 level which is an important supply and demand area...

FXPartisan

no comments...

FXPartisan

Be careful about the releasement of manufacturing PMI today...

FXPartisan

Looking at the monthly chart you can easily find out that this area is of great importance for this pair. With recent better than expected data for pound and future rate cut expected by RBA, A breakout possibility cannot be ignored; But it may also retrace before breakout...

FXPartisan

200 weekly moving average + 50% Fibonacci retracement + previous supply and demand zones... What cable has done till now is just passing every supply zone vigorously. considering more dovish than expected FOMC statement and recent better than expected UK data, no surprise if it does the same thing again...

FXPartisan

It's to soon to decide; It takes some time to be able to confirm this pattern...

FXPartisan

Seems that we are close to completion of inverse head and shoulder which was shown in previous charts...

FXPartisan

This is the harmonic way of looking at cable. If the pattern is invalidated and bullish momentum remains strong, further upside could target the May 21st high of 1.5699. The trade: Sell GBP/USD 1.5640, with a stop loss at 1.5690 and take profit at 1.5490. The risk/reward ratio is 1:3

FXPartisan

Try to merge this idea with the pitch fork. I will share the link below.

FXPartisan

I will show you the uptrend channel later...

FXPartisan

Well I guess the picture just tells itself...

FXPartisan

I showed you the daily head and shoulder in previous charts. looking at weekly time frame, it seems that we may also have an inverse head and shoulder pattern in play. Please check the attached idea for more information.

FXPartisan

Yesterday's daily candle is a hanging man which can also be considered as doji. In both case it shows pound is stalled at an area of interest around 1.55. I think today's close on daily chart would be so important. Two important news are going to be released for US dollar today.