GBPUSD | Perspective for the new week | Follow-up details
Updated
We closed last week's trading with about 100 pips as the much anticipated $1.14000 level was finally broken by the buyers to set the tone for a bullish momentum in the coming week(s). The GBPUSD is moving higher and it's looking to go all out in the nearest future if the price can break out of the $1.1800 level. However, we can not ignore the possibility of a downturn as the price is presently consolidating below the bearish trendline identified in the daily timeframe.
Risk Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
Risk Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
Trade active
There has been an indecision in the market as price action is caught within the 1.16150 and 1.15800 zone hence the need to be patient at this juncture to look out for a signal in the form of either a breakout or breakdown of the channel.Good morning
Trade active
The breakdown/retest of the $1.15800 level becomes a bearish signal. A further breakdown/retest of the $1.15500 level should welcome an addition to the existing position and let's see if we are going to be seeing a retest of the important $1.14000 level that was broken during the course of last week's trading session to incite the second wave of a potential bullish momentum.Trade active
UPDATE Running with over 150pips in profit as the second position is triggered below the $1.15500 level. Securing position
Trade active
UPDATEOver 170 pips in profit; securing position
Trade active
As discussed in the video, there is still the tendency of bullish momentum as the price remains above the $1.14000 level that was broken to the upside last week. We are only waiting for this retracement phase to end to plan for the second wave of the bullish momentum that started last week. Though the last 12 hours have seen buying pressure from the 1.14650 zone, there is still a likelihood of a retest of the 1.140000 level and if the price does not plunge that far followed by the appearance of a reversal pattern then we want to get ready to buy.Good morning
Note
CAUTIONClosing the position as the US Dollar appears to be losing momentum across the major pairs.
Trade active
This position was well explained during the live studio session today (video on my youtub). Price breaks out of the bearish trendline which shares a confluence with the $1.15500 level to insinuate a bullish signalTrade closed: stop reached
Update coming soonTrade active
Price retest the bearish trendline which was followed by a reversal structure on the lower timeframes to send a bearish signal.Good morning
Note
It is worth noting that there are a series of high-impact events today which is highly likely to be a catalyst for price movement. So, we shall be monitoring the behavior of price action prior to and after the events.Trade active
Secure positionTrade active
Securing positionTrade active
Fed Interest Rate Decision, Fed's Monetary Policy Statement, and FOMC Press Conference coming in up very soon... Protect existing position. Good evening
Trade closed manually
Taken out with a small profit, getting ready to buy the GBPUSD as price breaks out of both the trendline and the 1.15150 level. Update coming soonTrade active
#PatienceLooking for structures to join the potential rally
Trade active
Retest of structure on lower time frameNote
Let's be patient here and allow the haphazard movement of price action which is a result of the recent high impact even to settle before making any further actionsTrade active
Sorry, woke up late this morning. I missed the breakdown/retest of the $1.14000 level to join the decline. Congrats to those who took advantage of this... Hoping that the market will present another opportunity.Good morning
Trade active
We have been waiting for the market to present another opportunity to join a possible bearish continuation but in the last 24 hours, we have been witnessing buying from the $1.11700 level hereby insinuating a potential retracement move back into the structure with the anticipation of a trend continuation. However, we can not ignore the possibility of a breakdown/retest of the new demand zone around $1.11700 to incite a bearish momentum. So, patience is required at this juncture as the need to wait out for signals before making a decision and it is important to be aware that anything that happens from now on shall be in anticipation of the NFP coming up later today.Good morning
Trade active
This was duly explained during the live session today(video uploaded on youtube); I am still looking forward to seeing how the price will relate to the 1.14000 level which also shares a confluence with the bearish trendline identified on the daily timeframe before making a decision. However, counter-trend traders could take advantage of this bullish move into the sell window - a move I will consider to be a retracement of the previous impulse leg. Update coming up soonNote
I must admit that this move was missed as the market did not present a second chance to join the rally but it's ok, we live to trade another day! Above all, it was a profitable week but could have made more. For those who took advantage of the countertrend opportunity - kudos to you. Have some fun this weekend and be ready to come back stronger next week!Happy weekend to you!
Trade smart. Trade consciously
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