Gbplong
Last chance for GBP Last possible bounce I will bet with gbp, as always risk management is what matter the most.. this will be my 3rd attempt at a decent bounce.
GBPCHF 1:5 Risk Reward LONG (Potential Setup)Fundamentals:
LogicStrategy Quant scores shifting in favour of GBP, compared to the weak score provided for CHF.
- This was following the recent decrease in unemployment in the UK down to 3.8% from 3.9%.
- CHF PPI dropping significantly to 0% with a forecast of 0.2%
- CHF retail sales dropped significantly this month, down to -0.7%
- SVME PMI down for CHF to 48.5 with a forecast for 51
All signs showing the safe haven CHF is overvalued and requires a correction whereas GBP has started to gain strength amidst brexit negotiations being extended.
Technicals:
- Waiting for any long confirmation signals before considering an entry
- still to early in terms of technicals
- Would like to see 4HR higher highs, buying power candle stick confirmations etc..
GBPAUD Load the long CannonsGBPAUD has been struggling to break below the Support, With Large divergence forming on the H4 timeframe and structure being formed and respected I am bias to seeing a long impulse coming.
I see either of the two scenarios:
Price Breaks through zone and retest to start its bullish run
it respects the zone and pulls back to give second entry into the trade to Form a Head n Shoulders Pattern
Short-term GBP buy setupGood Morning Traders,
The GBP 60 minute timeframe currently presents a small consolidation with the potential to break to the upside. I've placed my entry order at the 1.32436 level (red line) however will be watching the markets throughout the day to make sure the first fib level holds. I'm expecting the consolidation to break out today. There is not much heavily scheduled GBP related news today however some economic data comes out of the US later on in the afternoon (UK time). I will be updating the idea as I go along however bare in mind this is a very short term trade.
Stay tuned.
Ike
Good angle breakout to buy situationI opened buy order on GBPUSD at 1.3204
SL - 1.3155
TP - 1.3380
RRR - 3.59
Reason - Price was breakout 4hour and 1hour angle level. SL 50 pips. And 178 pips to renew near high. If GBPUSD now has good volatility so it can be good order.
GBPAUD / 1H / BAT PATTERNWait to reach the entry point of the bat pattern. The targets are indicated.
LONG Live The Queen As discussed previously, the value of the American Dollar is expected to fall in the coming weeks and months. On the other hand, the notion of a "No Deal Brexit" supports the belief that the British Pound may be getting weaker. However, despite the political and economic turbulence that Great Britain may be facing due to the idea of a "No Deal Brexit," the pound may actually be getting stronger.
There is a weekly head and shoulders that should be completed by the end of the week. With a confirmed break above the neckline at the 0.382 fib level, look for a move up to 1.36000 which falls on the 0.618 fib level. Ultimately, we should look for the upward movement to test a strong monthly resistance at 1.37000 (possibly during the week of the Brexit vote) and a potential break above the resistance that would result in a strong and long-term upward momentum.
GBPNZDI think the abcd pattern is already start to work. also we can see a double bottom (maybe we can call eve&adam) I will enter the position after the closing on the neck; and will try to get both double bottom and abcd targets.
GBPUSD buy pattern. Try to catch long profitMonday, Tuesday and Wednesday - has main news for GBP pairs.
But pair has big long impulse on 7 feb. And next - 3 lower lows on correction.
So right now we can open long position on GBPUSD on 1.2920
SL on - 1.2851 - near 70 pips - big SL so use not big order volume.
TP - 1.3100 and RiskRewardRatio - 2.64.
Short GBPAUD on shoulder pattern formationPoor AUD data overnight with building approvals dropping 8.4% for the month of Dec vs expectations of +2% took AUD down overnight leading to a 40pip bounce in GBPAUD. The pair is in process of forming head and shoulders with the spike on poor data failing to breach the neck line at 1.8100 area. This is now the third day in a row to fail to break above 1.81 and hold.
Looking for retest of 1.79 area into RBA meeting (AUD central bank) tomorrow and over the coming week
GBPCHF - Continuation PatternHey!
We have a continuation pattern on the GBCHF called Bull Flag.
To confirm bullishness we have to get at least 1H candle close above the bull flag and above the red trendline.
Last weekly candle got a pretty nice rejection from the bottom - Double bottom formation - and now the breakout from the bull flag will confirm that next leg upwards.
A possible scenario is also a break above the red trendline and above the bull flag, retest those and then it is ready to go!
Follow your money management and trade with care!
Please, don't forget to LIKE, COMMENT & FOLLOW!
Thank You for your support, I really appreciate it!
Have a nice week!
All the best!
*This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
GBPUSD Tactical long setupAlmost the same situation as EURUSD.
-Needs to have that void filled (better seen on 4H)
-An untested breaker is sitting comfortably right at .705 fib level
-A bunch of short stops resting at that recent high with a bearish orderblock above it
Although it has a bit further to retrace relative to EURUSD, it's still the same setup.
GBPJPY / 4H / CONSOLIDATIONWe've currently been range bound on GBPJPY for the last couple of weeks. Watch for a breakout in either direction to enter positions.
Considering the bullish impulse leading into the consolidation our bias is bullish but we'll need to wait and watch before taking any positions.
GBPCHF approaching resistance, potential drop!GBPCCHF is approaching our first resistance at 1.2863 (horizontal overlap resistance, 61.8% Fibonacci extension, 23.6% Fibonacci retracement, descending channel resistance) and a strong drop might occur below this level pushing price down to our major support at 1.2283 (61.8% Fibonacci extension, horizontal swing low support, 76.4% Fibonacci retracement).
Stochastic (89,5,3) is also approaching resistance and a reaction off this level might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
GBPUSDHi,
After 2 Successful Analyse of pound we are here for third one.As you remembered we reached our short target sooner as i expected and we are in middle of Pound Long trade.GBP printed a great candle on D time frame and now i expect a little retrace and then continue upward.
Those who missed this long trade can enter it in retrace.
Good Luck
