USD/GBP in bullish trend.USD seems to have bottomed out with clear recovery and short term bullishness.
GBP
A second Chance to Sell in GBPAUD...Midterm forecast:
There is no trend in the market and the price is in a range bound, but we forecast a downtrend wave below 1.7650 would begin in Midterm.
We will close our open trades, if the Midterm level 1.7650 is broken.
New trading suggestion:
Price may also reach 1.7650, if price reaches this level, there is a second chance to get more profit and reinvest by Daily-Trading-Opportunities signals. This suggestion depends on personal strategies.
If you missed our first HUNT, you have a second chance to sell below the suggested resistance line (1.7650).
Entry signal:
Signal to enter the market occurs when the price comes to " Sell zone " then forms one of the reversal patterns, whether " Shooting Star " or " Peak ", in other words, NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone.
To learn more about " Entry signal " and special version of our " Price Action " strategy FOLLOW our lessons :
Technical analysis:
While the RSI downtrend #1 is not broken, bearish wave in price would continue.
A peak is formed in daily chart at 1.7655 on 08/14/2018, so more losses to support(s) 1.7365, 1.7065, 1.6860 and more depths is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 38.
Take Profits:
TP1 = @1.7995
TP2 = @1.7650
TP3 = @1.7365
TP4 = @1.7065
TP5 = @1.6860
TP6 = @1.6550
TP7 = @1.6160
TP8 = @1.5790
TP9 = @1.4375
TP10 = Free
Trade Setup:
We opened 10 SELL trade(s) @ 1.8170 (day close price) based on 'Peak' at 2018.04.27 signaled by our "Daily Trading Opportunity".
Total Profit: 6736 pip
Closed trade(s): 1500 pip Profit
Open trade(s): 5236 pip Profit
Closed Profit:
TP1 @ 1.7995 touched at 2018.05.04 with 175 pip Profit.
TP2 @ 1.7650 touched at 2018.05.23 with 520 pip Profit.
TP3 @ 1.7365 touched at 2018.08.08 with 805 pip Profit.
175 + 520 + 805 = 1500 pip
Open Profit:
Profit for one trade is 1.8170(open price) - 1.7422(current price) = 748 pip
7 trade(s) still open, therefore total profit for open trade(s) is 748 x 7 = 5236 pip
A trading opportunity to buy in GBPUSDMidterm forecast:
There is no trend in the market and the price is in a range bound, but we forecast the beginning of uptrend.
Technical analysis:
There is a divergence in RSI and price between the trough at 1.3205 on 2018-05-29 and the trough at 1.2955 on 2018-07-19, the probability of downtrend continuation is decreased and the probability of beginning of uptrend is increased.
The RSI bounced from the uptrend #1 and it prevented price from more losses.
While the RSI resistance #2 at 50 is not broken, the probability of price increase would be too low.
A trough is formed in daily chart at 1.2955 on 07/19/2018, so more gains to resistance(s) 1.3170, 1.3280, 1.3460 and more heights is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 45.
Trading suggestion:
. We have already opened 9 BUY trade(s) @ 1.3127 based on 'a reversal candle (Valley)' entry method at 07.24.2018 in our suggested support zone (1.3050 to 1.2955).
Beginning of entry zone (1.3050)
Ending of entry zone (1.2955)
Entry signal:
Signal to enter the market occurs when the price comes to "Buy zone" then forms one of the reversal patterns, whether "Bullish Engulfing" , "Hammer" or "Valley" in other words,
NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone.
To learn more about "Entry signal" and the special version of our "Price Action" strategy FOLLOW our lessons:
Take Profits:
TP1= @ 1.3170
TP2= @ 1.3280
TP3= @ 1.3460
TP4= @ 1.3560
TP5= @ 1.3655
TP6= @ 1.3830
TP7= @ 1.3970
TP8= @ 1.4345
TP9= Free
Can we expect a recovery in volatility?We can see from weekly that volatility became apparently small since 2017.
weekly
140.000 - 155.000 Both of the upper and lower of the range are blank.
Therefore, if you go outside one of the upper and lower ranges, it may be possible to expect volatility to recover.
Since it is the most recent range, I will aim for both long entry and short entry as usual.
<< tactics >>
If MPP (P) 146.041 functions as a support line, think long entry.
The first limit is under YPP (P) 140.077
The second limit will be decided based on WePP next week.
I would be grateful if you like it idea,give me follow or agrees!
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Brown thick line: Yearly Pivot Points (YPP in the text)
Light blue thick line: Monthly Pivot Points (MPP in the text)
Green thin line: Weekly Pivot Points (WePP in the text)
Indigo thick line: Horizontal line or Trend line seen by weekly or monthly
Indigo thin line: Horizontal line or Trend line seen by 4hourly or daily
Indigo dotted line: outstanding round number.
Red thick line: Untrustworthy line for me
Red curve: EMA 20 close
Indigo curve: EMA 200 close
Green curve: EMA 800 close
Black curve: EMA 1600 close
x mark: Line which may not function
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YPP does not work, does MPP work?eurgbp has been keeping a narrow range since May.
As you can see, YPP (P) does not work and MPP (P) is functioning.
As you can see from Weekly , it is a range quote in the long run.
It seems that you can aim for long after confirming support of MPP (P).
<< tactics >>
1) MPP (P) 0.88187 is functioned as a support line.
Long entry.
The first limit is under WePP (R1) 0.88841.
The second limit is under MPP (R1) 0.89194.
2) It is doubtful whether MPP (P) 0.88187 functioned as a support line.
After penetrating downward, check if it functions as a resistance line and consider a short entry.
I would be grateful if you like it idea,give me follow or agrees!
------------------------- --------------------------
Brown thick line: Yearly Pivot Points (YPP in the text)
Light blue thick line: Monthly Pivot Points (MPP in the text)
Green thin line: Weekly Pivot Points (WePP in the text)
Indigo thick line: Horizontal line or Trend line seen by weekly or monthly
Indigo thin line: Horizontal line or Trend line seen by 4hourly or daily
Indigo dotted line: outstanding round number.
Red thick line: Untrustworthy line for me
Red curve: EMA 20 close
Indigo curve: EMA 200 close
Green curve: EMA 800 close
Black curve: EMA 1600 close
x mark: Line which may not function
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GBP/JPY Technical analysisThe daily chart of the GBP/JPY has formed a Full Elliot Wave.
It is poised for a bullish correction in the form of ABC Wave.
The pair is also in downchannel formation and there is a good possibility that it will go towards its upper trendline.
It has also formed a morning star pattern in the candlestick pattern.
So as per the above analysis,we can expect the bulls to take charge in the GBP/JPY counter.
GBPJPY Shorting OpportunityGBPYJPY Seems weak at current levels which coincides with a horizontal and falling trendline resistance.
Intraday EURGBP Long IdeaA small intraday trading idea on the EURGBP 15 mins chart. Can be held post the target for more upside considering the targets on the lower timeframes. This is a small intra-day trade for me.
Catching Trade at Pull backs after break outThe trade is given based on the idea of catching trade entry along with trend during pull back with clear reversal signal (price rejctions at strong Resistance).
Let us see the result.
[New Chart]: There is a new opportunity to sell in GBPNZD...Midterm forecast:
While the price is below the resistance 1.9965, beginning of downtrend is expected.
We make sure when the support at 1.9350 breaks.
If the resistance at 1.9965 is broken, the short-term forecast -beginning of downtrend- will be invalid.
Price may also reach 1.9350, if price reaches this level, we may enter by Daily-Trading-Opportunities, this entry is not according to Trend Hunter Strategy, and depends on personal strategies.
Technical analysis:
A peak is formed in daily chart at 1.9755 on 04/26/2018, so more losses to support(s) 1.9350, 1.9210, 1.9095 and more depths is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index ( RSI ) is 51.
Trading suggestion:
There is possibility of temporary retracement to suggested Sell Zone (1.9640 to 1.9835), if so, we would set orders based on Daily-Trading-Opportunities and expect to reach short-term targets.
Beginning of entry zone (1.9640)
Ending of entry zone (1.9835)
Entry signal:
Signal to enter the market occurs when the price comes to "Sell zone" then forms one of the reversal patterns, whether "Shooting Star" or "Peak" , in other words,
NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone.
To learn more about "Entry signal" and special version of our "Price Action" strategy FOLLOW our lessons:
Take Profits:
TP1= @ 1.9350
TP2= @ 1.9210
TP3= @ 1.9095
TP4= @ 1.8930
TP5= @ 1.8785
TP6= @ 1.8640
TP7= @ 1.8270
TP8= @ 1.7900
TP9= @ 1.7440
TP10= @ 1.6705
TP11= Free
GBP USDGBP USD having spot at 1.3169, near about 50% Fibo Level , next resistance is 1.3200 and support is 1.3140 for today, if market break these level from both sides direction would be confirm of the market,
[the crossroads] Bearlish bat in GBP/NZD or triangle breakoutFrom the chart, the price is now at the crossroads, it's also a prefect example for technical analysis .
It has already formed a bearlish bat from 2016.07-2016.05, and successfully reached the target price; Now, the D-point is converted to X point and form a bearlish bat again with the potential reversal zone made by 2.24BC and 0.886 XA.
There is also a decline trend line above the PRZ zone
But if you add up the uptrend line and you will see a triangle, the price also runs about 2/3 of the triangle, and the possibility of an upward breakthrough is increased.
The RSI index diverts again
I will continue to observe it. If I tarde on the wrong direction and fail, I will seekthe opportunities that I have made in GBP/JPY 0.20% ()
