We have the perfect harmonic moves on FX:EURGBP Price is moving between the channel and making harmonic moves, which means we are in a 3-drives pattern market. As we see we have the perfect fibs 61.8 and 1.272 confluences at the edges of channel and it is the best time so sell. The first target is the next support, where price might consolidate. The second...
On FX:EURGBP , we have clear downtrend; price makes Higher High and Higher Low on 1H chart bar; it supported by Trendline. Also, potential Bat pattern appears, which increase the probability rate of this set-up. If price finishes the Bat pattern, it could be a good opportunity to go short at Trendline, at 0.73178 T1 - 38.2% T2 -61.8%
MACD showing end of bullish divergence RSI now in hard bearish divergence, after retrace from strong support (18/03/15 high - 01/06/15 low) in my opinion we are ready to continue downward move even if i have to out by SL, looking for possibility to reenter later for price formation triangle setup
bearish crab is developing. fibo cluster, price action resistance zone and crab completion. RSI overbought condition.
My attempt to trade the trend down. ___________________ Money management of my trades. There are two targets: the first one is at least double of the target two (the farthest). The proportion is 2/1. So, 2 lots for target one and one lot for target two. Typically, when the target one is reached, the stop-loss of position for target two is put to breakeven.
Stop loss just below 0,74 Take profit at 0,734 This year price failed many times to break to upside 0,74 area. Risk off scenario will support GBP, meanwhile EUR is finding exhaustion in many pairs. Failing to reach higher high after Usa data, will be a good opportunity to short EUR/GBP. RSI trending lower made a divergence in price.
I have identified this contracting triangle which gives a good opportunity to antecipate the next wave just before the consolidation ends. At 15 minutes timeframe the 'E' wave has it structure broken (the thin blue line). So I placed the orders at the break-point of the line. Happy trading!
Market has gone 'to the wrong side' unfortunately. The process of trading was very cautious and even so the market has punished ruthless. Prices float in consolidation now, which I did not expect. I was supposed to do so! This adds to my experience. Loss of 195 pips. ___________________ Money management of my trades. There are two targets: the first one is at...
potential gartley pattern ! , and for the 4H chart look like flag pattern ! might be potential breaking major support and continuous to downtrend !
The only tools we are going to use are resistance and support Lines, trendlines, EMA 10 and EMA 20. The strategy step by step is the following: 1) In the 4hour chart we draw the support and resistance Lines of major levels. We also get an idea of the intraday trend. 2)Then, we are going lower to 1 hour chart. We try now to draw channels or trendlines. Again we...
Usually I share EURUSD ideas with you guys, but I wanted to switch it up and look at something different since the Euro is still playing out yesterday’s prediction. (By the way, if you want to see a breakdown that we’ve been doing on it over the past few days in my live trading room check out this video www.youtube.com) There’s also a special cameo in the video...
As you can see on the right chart, the trend in EUR/GBP is clearly up, and recently a"Triangle" pattern has been forming. Now it looks like the price is going to make a break-out. The target is above 0.7421 high. Possible event-risk is UK GDP release due in 30 minutes.
Please refer to a chart for details, likes, comments and questions are welcome. Sincerely
A well-formed harmonic pattern warns of downside risks. Invalidation above 1.5830.
This setup is very similar to EURUSD. Nevertheless, GBPUSD seems more 'price-action friendly' than the Euro cross. The dollar correction has a daily target. If you zoom out the chart you shall see. ___________________ *For now on I'll reveal the money management of my trades. There are two major targets: the first one is at least double of the target two (the...
Building a case for entry is the name of the game and this is looking like a great opportunity to get long on the pound against the Euro. At the nice round number of 13900 we have a simple ABCD completion which also happens to coincide with the C-D leg of a deep Gartley pattern completion.
GBPUSD is trading close to the 1st standard deviation from weekly (120-h) mean, but it has no slope. Volatility is not expanding (measured by 3.2 standard deviations from weekly mean) and is also flat. Thus there is not enough slope/expansion to show probability of trend - the Cable is likely to revert to the mean. Traders can pick shorts at or close to the...
I am suggesting a trading opportunity for the GBP vs USD. Today we had major news with the USD which affected the price. Price had been sitting inside of a range or a bullish channel before the news this morning. The news event took the price outside of the range channel which is located at 1.56897 top of range and 1.54905 at the bottom of the range. We had a very...