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GBPJPY - continuation breakout to the upside on a flag poleAfter a break and retest of the inverse head and shoulders a few weeks ago GBPJPY is looking very bullish with higher highs and lower lows. Right now price actions looks to be pivotal, as a major break out to the upside could lead to a Strong year for GBP. A favourable deal with Europe in the Brexit negotiations and the fast and efficient roll out of the COVID vaccine could be seen as good arguments for a strong pound this year. Before this i do see some volatility occuring over the next few weeks with deeper pull backs, if it can register a new higher low then im will be buying pound all the way to 175. What we have hear is a short to medium outlook, bullish momentum following a break out of this flag pole pennant, heading up towards the top of this range created from a previous double bottom, the D2 fib extention level and up into supply at around 134.
Long
by DANIELDOTS
FTSE and all Stocks - Don't BUY!!!! - They will plummetHello all DuncanForex here with a trade idea - with no advertising about anything so the post will stay active. With the power move during February 2020 (The AB Move) and then a slower retrace to the previous area of support which is now resistance. The FTSE broke out of its downward consolidation long and is now progressing higher over the past few months to the 61.8 Fib retrace. Don't be fooled by this Bullish move that occurred this week, the price is right in the middle of the 61.8% and 78.6% zone, it will consolidate again and i still think based on my analysis, the CD move will be completed and the FTSE will ultimately go down to 3500 area. Price is about to touch dynamic resistance shown by the blue diagonal line which shows the long term uptrend broken at the start of the year, price is now pulling back up to this zone to then head down again. I had shorted the market as per my related ideas below, and i now have new entrys that you can see in the picture. (if you zoom in) I do expect a bit of sideways movement, also some stop hunting, however my analysis for me suggests all stocks are going to plummet very soon. and this is my view for the next few years. Stay safe and safe trading Duncan
TVC:UKXShort
by UnknownUnicorn483829