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EURGBP Rejected on the 1D MA200The EURGBP pair has been trading within a Channel Down since the June 15 High. It is making Lower Lows on the 1.382 Fibonacci extension each time. On Friday the price got rejected on the 1D MA200 (orange trend-line) and today it is reversing lower. Keep in mind that the previous Lower High got rejected on the 1D MA50 (blue trend-line). It appears that this is an ideal sell opportunity on the medium-term. You can target 0.8250, which isn't just the 1.382 Fib extension but also the April 14 Low, rendering this level as the next horizontal Support. -------------------------------------------------------------------------------------------------------- Please like, subscribe and share your ideas and charts with the community! --------------------------------------------------------------------------------------------------------
Short
by TradingShot
1
GBPCAD preparing a strong rally to the 1D MA200The GBPCAD pair broke above the 1D MA50 (blue trend-line) this week for the first time since February 24 and is consolidating. This is the first sign that the trend might be changing from long-term bearish to bullish. This is evident on the 1D RSI which has been on Higher Lows for months. The very same pattern was last seen in Q3/ Q4 2021. After the price broke above the 1D MA50 on November 26 2021 and got rejected, it posted an end-pattern rally to the 0.618 Fibonacci retracement level above the 1D MA200 (orange trend-line). As a result we are bullish long-term on this pair, targeting at least the 1D MA200. -------------------------------------------------------------------------------------------------------- Please like, subscribe and share your ideas and charts with the community! --------------------------------------------------------------------------------------------------------
Long
by TradingShot
1
GBPNZD targeting 2.010 after this pull-back is completedThe GBPNZD pair is trading below both the 1D MA50 (blue trend-line) and 1D MA200 (orange trend-line) for the past week. This is not an unfamiliar trading set-up as the same W pattern was last seen from October 2018 to October 2019. The last Lower High of the long-term Triangle pattern was on February 03 2022 so currently, in terms of RSI also, we are on the last pull-back before the final rally to complete the pattern. Our long-term target is the 0.786 Fibonacci retracement level at 2.010. -------------------------------------------------------------------------------------------------------- Please like, subscribe and share your ideas and charts with the community! --------------------------------------------------------------------------------------------------------
by TradingShot
1
GBPCHF Long-term Buy OpportunityThe GBPCHF pair has been trading within a Bearish Megaphone pattern since the April 05 2021 High. Every Lower Low has been on the 1.786 Fibonacci extension from the previous and the recent series of Lower Highs have been rejected on the 1D MA200 (orange trend-line). The price is now testing the Lower Lows trend-line and that makes it an automatic buy. The short-term target is the 1D MA50 (blue trend-line) and long-term the 1D MA200. Invalidation of the Megaphone is a sell signal, targeting the 1.786 Fib extension again. -------------------------------------------------------------------------------------------------------- ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** --------------------------------------------------------------------------------------------------------
Long
by TradingShot
GBPJPY Trade according to these levelsThe GBPJPY pair has previously formed an Inverse Head and Shoulders pattern (IH&S) that hasn't yet fulfilled its levels. The reason is the Lower Highs trend-line that has been formed since the June 09 High. Only a break above that level, which caused a rejection yesterday, can initiate a new bullish wave, in which case our targets will be 168.535 and if the Channel Up breaks, then pursue the 1.5 Fibonacci extension of the IH&S. Until that happens, we are on a short-term sell, targeting the Higher Lows trend-line. After that, only a break below the 1D MA200 (orange trend-line) can justify further selling. -------------------------------------------------------------------------------------------------------- Please like, subscribe and share your ideas and charts with the community! --------------------------------------------------------------------------------------------------------
by TradingShot
1
GBPUSD continues to be a sell unless the 1D MA50 breaks.It's been 1.5 months since our last GBPUSD analysis where a perfect sell signal was given: The pattern continues to be a Bearish Megaphone since late February and continues to trade below the 1D MA50 (blue trend-line) since February 24. This is the critical level for the GBPUSD pair. As long as the price trades below it, which now is exactly on the Lower Highs (top) trend-line of the Bearish Megaphone, the pair is more likely to chase a Lower Low on the next Fibonacci extension available, which is the 3.0 Fib around 1.1500. A break above the 1D MA50 is a buy signal to 1.2600 (1.5 Fib) on the short and the 1D MA200 (orange trend-line) on the medium-term. -------------------------------------------------------------------------------------------------------- Please like, subscribe and share your ideas and charts with the community! --------------------------------------------------------------------------------------------------------
Short
by TradingShot
1
EUR/GBP Trendline Breakout Might Have Been a False OneEUR/GBP broke under a near-term rising trendline from April back in early July. While the Euro weakened after the breakout, it seems that the single currency is trying to make a comeback. Prices were unable to break under the 100-day Simple Moving Average. This means the Golden Cross with the 50-day line is still in play. Breaking above the 50-day line from here could be a hint that further gains may come. Such an outcome would place the focus on highs from June. Otherwise, further losses would place the focus on lows from April.
by QM_Dubrovsky
💵British Pound/New Zealand Dollar 💵Analyze !!!British Pound can make a Regular Contracting Triangle, and now it seems that the Pound was able to find point D of the Triangle in the Support Zone & the lower line of the triangle & SMA 100 (Daily TF). I expect that the Pound can go UP to the upper line of the Triangle, and then again Pound will go DOWN to the Important Support Line. 🟢Support Zone🟢: 1.932 NZD until 1.924 NZD 🔅British Pound/New Zealand Dollar Analyze ( GBPNZD ) Time frame 8H⏰ Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy, this is just my idea, and I will be glad to see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends, Thanks, and Trade safe
Long
by pejman_zwin
GBPAUD Neutral within a Rectangle since AprilThe GBPAUD has been trading within a very simple Rectangle pattern since early April, giving traders excellent sideways opportunities. At the moment the price is around the 1D MA50 (blue trend-line) but with the MACD on a Bearish Cross (all of whom led to Lows), it is more likely to see a new selling leg towards the Support of the pattern. This time, there is the Higher Lows trend-line involved, that has initiated short-term rebounds twice already, so the most appropriate course of action would be to buy just above that trend-line on a tight SL, targeting the Resistance but be quick to reverse to a sell aimed at the Support if a 1D candle closes below the trend-line. -------------------------------------------------------------------------------------------------------- Please like, subscribe and share your ideas and charts with the community! --------------------------------------------------------------------------------------------------------
by TradingShot
EURGBP Bullish with 1D MA60 holdingThe EURGBP pair has been trading exactly as our last analysis projected on May 24: The Channel Up on the 1D time-frame continues to be dominant after the bearish trend of 2021 broke. Key highlight is that the 1D MA50 (blue trend-line) has been holding since the price broke above on April 22 and today is going for a test. As long as it holds, the price remains bullish short-term towards the 1W MA200 (red trend-line), which is the Resistance as it had a perfect rejection on June 15. A break above it is bullish towards the Higher Highs (top) trend-line of the Channel Up, while a break below the pattern and the 1D MA50 is bearish short-term towards the 1D MA200 (orange trend-line). A 1D candle close below the 1D MA200 (orange trend-line) could restore the bearish trend on the long-term. It is worth noticing the 1D MACD band squeeze since late May. The last time it happened was in May 2021 and was at the start of the Bearish Megaphone. We can claim that this formation is an accumulation pattern that favors the dominant trend each time. -------------------------------------------------------------------------------------------------------- ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** --------------------------------------------------------------------------------------------------------
Long
by TradingShot
2
BRITISH POUND FUTURES (6B1!), H1 Potential for Bearish DropType : Bearish Drop Resistance : 1.2335 Pivot: 1.2181 Support : 1.1950 Preferred Case: On the H1, price is moving below the ichimoku cloud and has recently broken out from the ascending trendline which gives us a bearish bias that prices will drop to the pivot at 1.2181 where the 100% fibonacci projection, 50% fibonacci retracement and swing low support are. Once there is downside confirmation that price has drop to pivot, we would expect bearish momentum to carry prices to 1st support at 1.1950 where the swing low support and 127.2% fibonacci extension are. Alternative scenario: Alternatively, price may rise to the 1st resistance level at 1.2335 in line with the swing high resistance, 100% fibonacci projection and 61.8% fibonacci retracement . Fundamentals: UK CPI y/y data was released at 9.1% and Core CPI at 5.9%, with the GBP strengthening through the session, giving us a weak bullish bias for the british pound.
CME:6B1!Short
by Genesiv
British pound-USDGreetings, An interesting picture is emerging on the British pound. General picture. The instrument is in the consolidation for 6 years, at the moment the price is at its lower boundary. The more times it tests it, the weaker is this support. But since we look at the currency, this process can take months. Nevertheless, if the price leaves the area of 1.20-1.21 and consolidates under it, it might be a good short-set to the area of 1,13-1,14. Local picture. On a smaller TF the same consolidation is formed on a smaller scale. Trade inside the consolidation from the boundaries with the targets of the middle of the channel. With the entry point not when approaching the boundary, but when it bounces off the boundary at support/resistance confirmation. This method of trading is suitable for experienced traders, I would recommend beginners to trade out of the long/short consolidation. This trading situation, I will also trade and in its implementation I will try to make an update. Stay tuned. If you liked this stuff then please like and subscribe, so you won't miss anything. Always use STOP, and do not use a leverage higher than x3. A trader must always have tomorrow.
by Kirill_Gaitan
GBPJPY Sell opportunityThe GBPJPY pair has formed an Inverse Head and Shoulders pattern (IH&S), which is typically a technical Bearish Reversal formation. The Double Top initiated the first wave down, where all candles got contained above the 1D MA50 (blue trend-line) causing a 0.5 Fib rebound. Now the formation may see the second wave down. If the Support Zone breaks, we expect a 1D MA200 (orange trend-line) test. A 1D candle close below should be enough to finally test the Higher Lows trend-line for the first time since March 08. -------------------------------------------------------------------------------------------------------- Please like, subscribe and share your ideas and charts with the community! --------------------------------------------------------------------------------------------------------
Short
by TradingShot
6
GBPCAD Rejected on the 1D MA50. Action plan ahead.The GBPCAD pair has been trading within a Falling Wedge pattern, which broke last Thursday to the upside. So far this move has been short-lived as the price got rejected on Friday on the 1D MA50 (blue trend-line) and continues today this trend. While the 1D price action has been on Lower Lows (Falling Wedge's bottom), the RSI has been on Higher Lows, indicating a hidden bullish divergence. The very same divergence was last seen in November/ early December 2021 with the pair trading again within a Falling Wedge. After again a 1D MA50 rejection, the price made an pull-back, then upside fake-out above the 1D MA50, which was still rejected on the Resistance of the previous Lower High, before finally making a Lower Low. That Low led to the true technical break-out that extended as high as the 0.618 Fibonacci retracement level and above the 1D MA200 (orange trend-line). Right now the 0.618 Fib is around 1.66500. Our trading plan is to either buy on the previous Lower Low (around 1.5500) or if the 1.62100 Resistance level breaks first, and target the 0.618 Fib, which by the time will be on or above the 1D MA200, fulfilling the fractal analogy. An alternative to take profit on those buys would be when the RSI hits its Resistance level. -------------------------------------------------------------------------------------------------------- Please like, subscribe and share your ideas and charts with the community! --------------------------------------------------------------------------------------------------------
Long
by TradingShot
1
GBPNZD Emerging Golden Cross targets 1.9830.The GBPNZD pair is close to forming a 1D Golden Cross, which is when the MA50 (blue trend-line) on the 1D time-frame crosses above the MA200 (orange trend-line). That is a technical bullish pattern. As you see on the chart, every time the pair formed a 1D Golden Cross, it traded within a Channel Up pattern and the price rose to the 1.5 Fibonacci extension and then the 2.0. Also the candle action printed a similar formation and they happened to be around the same levels. As a result we expect the price to trade higher within a new Channel Up and target 1.9830 (1.5 Fib) short-term. -------------------------------------------------------------------------------------------------------- ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** --------------------------------------------------------------------------------------------------------
Long
by TradingShot
6