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GBPUSD Sell Signal - Channel RejectionGBPUSD has been ranging in this upwards channel since December with a bias to the south side. The top channel has just been hit and rejected price. We have a broken up trend line on the 4hr and strong bear candlesticks as secondary confirmations. Look to enter at current price area of 1.3785-1.3850 and take profit at the bottom of the channel. Good luck and let me know if I can help in any way. Charles V CVFX Management Trading made Simple Jan 2021: 14%
Short
by cvfxwealth
3
EURGBP OutlookThis pair has broken a strong support line on the weekly time frame and created a newer low. Pair is overextended and RSI in strong buy zone. I do expect a retrace north back into the weekly range between 0.8800 and 0.9200. Once we have a break and close above 0.8900 I expect price to head to the top of the weekly channel. I'd advise not buying this until this support, now resistance, is broken. GBP strength is weakening overall so my bias is EURGBP to the northside but patience is crucial here. Good luck and let me know if I can help in any way. Charles V CVFX Management Trading made Simple Jan 2021: 14%
Long
by cvfxwealth
1
GBPTHB Long term.Hi everyone, looking at GBPTHB, we may see that GBP formed nice candle patter to the upside, also it's at 16 years low from where we should see a pullback at least to 50 fib. As brexit, covid drives markets, loots of people will seek holidays in warm countries once allowed, and as Thailand is beloved by Brits, we may see a skyrocket in the price of thb. This information is not a recommendation to buy or sell. It is to be used for educational purposes only. "A is for my attitude working through the patience Money comes and goes so the M is for motivation Gotta stay consistent, the P is to persevere..."
Long
by Coder775
1
Short and Long moves playing out EURUSDAs this pair is currently in an overall uptrend it's only now nearing its 4th wave completion of a weekly Elliott wave. Supporting this aspect of the move, there's a 5th wave extension measured with Fibonacci levels, just under a daily imbalance zone (further magnetic pull to the downside. You can see the basics of the Elliott move - I have highlighted it using Midpoints of the price to make it clearer to view. In addition to this the DXY which is counter to the EU - has a weekly bias to the Bullish side. And of course, the opposite then applies to the stochastic on the EU itself. The above also shows the Golden zone for the major Fib pullback between 50 & 61.8%. In terms of momentum, we have a download of pressure shown on the Oscillator. Our Quadratics Indicator also shows a move from above the Mean level coming below. There is also a Demand zone at the same daily 5th extension shown in red here; We can see the closest pull being a daily Imbalance With this being said - the overall Bias is Bullish, but we would like to see the drop to complete the pattern before the next major rally. Have a great weekend! Disclaimer This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
Long
by Mayfair_Ventures
2
EURUSD to bottom of range or lower. 7.66/1 RRHere is what I am seeing on EURUSD. While price could very well turn around me and reverse past it's short term highs it appears that there is a lot absorption of higher prices (lower lows) during this consolidation period which gives me confidence in my position and allows for a nice risk to reward. Furthermore, the exchange quote for the Euro Dollar has become quite extended on the back of stimulus news every other week, now that Stimulus and US elections are settled higher prices will likely continue to be sold with ease. My first target is a 1.8/1 second target is 3.85/1 and my swing target is 7.66/1
Short
by crawfordpaul
GBPJPY SHORTYes, it seems to me that after Brexit Great Britain is slowly losing economic stability. I think we can get ready for a longer short. Haha, yes I am HnS mental ... We are now on the top of the right arm so this is the best time for entry! Price is creating double top with top from august 2020 . Keep in mind that we are entering the March 2020-covid zone ... a zone full of surprises :)Look at the areas marked in the ellipses ... if you deduce what and how it will make your life easier :) sl:20 pips above the highest red zone tp1: 140.445 tp2:139.700 Yellow zones is mostly s/d area(h4-d1), red zones is major areas of overlapping multiple confirmations in one place. If u have any questions just msg me amilerski@icloud.com ~~the market is always right...not you ~~ :)
Short
by InfiniteHFX
ridethepig | Teeing Off in GBPUSD📌 ridethepig | Teeing Off in GBPUSD After an interesting Asian session the unlikely looking manoeuvre is preparing to unfold. Why? Because sharp speculators are already beginning to outguess the dovish BOE and directionally are flooding back to USD. A very similar setup to the one we traded in the middle of December flows: Large macro players have been spotted on the offer, a few moves later and we can be back at 1.313x in little time. Things that develop thereafter will be interesting, for now let's play the initial leg down trapping the unaware buyers who are protecting GBP. Swing the club, and don't mess it up! Thanks for keeping the feedback coming 👍 or 👎
Short
by ridethepig
18
GBPUSD Sell SignalGBPUSD is currently at a resistance level on a weekly. Last time price hit this area we had a strong reversal south (Sep 2017). Price is overbought with RSI pointing south. Look to sell at top of this channel to the bottom of the channel and sell at a break below this channel. TP @ 1.3430 & 1.2900 areas long term. I'd recommend taking profit areas of 50-75 pips. Good luck and let me know if I can help in any ways! Charles V CVFX Management Trading made Simple 2020 Growth: 206%
Short
by cvfxwealth
GBP/NZD Post Brexit Hike?I've been reading about the Brexit deal. Pick one winner...UK or EU? Right now I would say UK...seems like since the deal closed the GBP has gained strength. I'm sure the UK is happy about leaving the EU partnership. They can operate on their own terms and trade tax free and without quota. "The agreement between the EU and UK on a new partnership sets out the new rules that apply as of 1 January 2021 in the relationship between the EU and the UK. It covers areas such as: trade in goods and services; a level playing field; fisheries; aviation and road transport; social security; UK participation in EU programmes; internal security." (website) None of my analysis are fact. I do believe that the UK will eventually get stronger with the Brexit deal being done. Yet, it will take some time. My technical analysis tells me that price may drop a little more into the support zone (1.86-1.82) before it tests 50%-61.80% retracement of the previous high of the 2.0's (1.96-1.94) and price did hit this range last August. Price broke the current resistance zone in April of '20 and shot back down to the current support zone. Somebody tell me why it wouldn't test the most recent high at some point? Boris Johnson might be related to Magic Johnson the way he may pull this off for the UK!
Long
by Redimere_91