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Brexit

Chart of the Day: GBP/AUD Good Day :) hope everybody is having a great trading week so far (That's if you've been following my analysis) wink* I'll add the links below. Technical Analysis: GBP/AUD Bias: Bullish - On the 1Hour timeframe price action has created an inverse head & shoulders patterns. which occurs after a downtrend and indicates a possibility of a high probability trend reversal to the upside. Please don't forget to leave your thoughts and comments and if you benefited in any way from this post please like & share. Trade safe & have a great trading week :)
Long
by Yunus_V
ridethepig | GBP Market Commentary 2020.04.08Limited coverage lately as @ridethepig is spending more time on calls these days than in my entire career. Trying to get a sense of productivity, expectations and capital structures before making further comments. On the UK side, the mood is low and with PM Johnson still in ICU it does not look good. All rallies should be sold in cable towards the highs in the range at 1.236x/1.237x. Look to target 1.20xx and 1.15xx extensions at the lows again, invalidation above 1.250x. The targets come from the same areas as before: Risk markets are going to struggle as we prepare for a long weekend. Wuhan restrictions were lifted today and will be one to track in the coming weeks, I am expecting another leg lower in Global Equities which will trigger a rush to USD and to shake out all the early dip buyers who are speculating that risk is faded for good and this will be a quick in and out. Thanks as usual for keeping your support coming with likes, comments, charts, questions and etc!
Short
by ridethepig
11
GBPJPY: LONG TRADE SETUPGBPJPY's corrective recovery from 123 lows extended higher the previous week as the currency ended with some bulls pushing an uptrend in price, GBPJPY seems to have found and created support in the previous week, I expect this trend to continue up until somewhere around 138-140 before we might see some exhaustion. Could this be a corrective phase for a further downside or the bull market is here ? Time would tell if the resistance level at 147 is broken or rejected. Risk Warning : The risk of loss in trading Foreign Exchange (FOREX) can be substantial. You should therefore carefully consider whether trading is suitable for you in the light of your financial condition. Goodluck !
Long
by Tim298
2
ridethepig | GBPUSD Chart Of The WeekOn the UK side, very little to update on the fundamental side. I am tracking the GBPUSD rally closely at these levels into 1.195x/1.20xx resistance as a good area to fade with targets towards the lows in the range at 1.15xx support and 1.05xx. The main issue is coming from the lack of liquidity meaning its difficult to get much size on. For those tracking the previous Brexit flows it has been flawless till the 1.15, the next target below if we break will be 1.05! Thanks as usual for all those keeping the support coming with likes, comments and etc! Jump into the comments with any questions and charts. Highly recommend tracking this flow as it will open up the leg for the Brexit double impact later in the year.
Short
by ridethepig
14
Pound capitulation! [Advanced]Hi I don't usually show FX volume but here I think it's maybe interesting. Same with Oanda: Not with futures thought: Majority of retail noobs are long which I don't like but makes sense I guess. Always trying to fight the trend... I guess maybe expect them to close once the price gets close to breakeven? And price would hesitate. I don't see a reason for whales to pour money in, not at the moment. fxssi.com Maybe we are in the area where their stops are getting hit. My opinion on the dollar is it is looking scammy, pretty sure I saw way more parabola-drop down slightly- then sharp rally new high - then crash than continue up. Supply & demand doesn't even matter in this ponzi but when the FED print 900 trillions "exceptionally" "c'mon guys there was a pandemic we have to help people in need" why would the dollar keep going up? FED meeting in a few hours, going to be fun. Already zero rates and more. YES I am taking a trade ahead of a central bank meeting. Gambling this ponzi goes boom, and even if it does not I expect a reversal to be likely. Damn I'm sorry price is rallying as I type and try to put my mind into clear words... Well depending on where you enter the stop strategy differs a bit. If it did bounce quite a bit then it would be a momentum (but not trend following yet) strategy rather there. What is magical here is rates got cut and magical monopoly money was printed ahead of meeting, and I don't think it's been priced in with stonks down down down and dollar up up up (or without the printing it would have gone up even more maybe?). Money printer goes brr brr brr.
Long
by MrRenev
3