Looking at buying gu from a much better price like last week we predicted that price would come into the region of 1.38250-1.38300 and we was spot on once again this week I am looking for a similar setup this week I will be looking at two buy orders from 2 zones we have only been bullish so much we can only keep going up my target is 1.44 which is previous monthly...
LONGS FROM LOWEST PRICE POSSIBLE 1.38000-1.38250
quick overview
Looking at gu we can see that we have been in a very strong uptrend as we have broken above the 1.37400 level we was ranging around that region swell for a couple days until recently we have seen a break above that previous level and now we are starting to go towards the 1.40 level which is a...
Hello Traders,
Here is the Top-Down Analysis of GBPUSD (Monthly, Weekly, Daily for direction and 4H for entry) for
Week 44 - 26 Oct
M > Price is respecting downward trend-line as resistance. It reached monthly resistance coinciding with the trend-line, got rejected and moved to the downside. We saw a W pattern, its neck also coincided with 0.618 Fib level on...
We have a 5 Wave Downward Impulse structure complete and now starts the Upwward Correction
Here We have a Wave A which is a Upward Correction and this is a Type 2 Zigzag (where Wave A or C is a proper 5 Wave Impulse whilst the other is a ABC);
...
The weekly right side is down against 1.4393. The daily has a bearish sequence however is turning up against the March 2020 lows at 1.1412. The 4 hour is turning up against 1.2244. The 1 hour right side is up against the 1.2646 lows. While above 1.2244 low expect the pair higher toward 1.3200 before it corrects the cycle from the March 2020 lows.
Short term...
The 4-hour is turning down against the 6/10/20 highs at 1.2815 . The 1 hour is turning up against 1.2440. While a bounce fails below the 6/10/20 highs expect the pair back lower under the March lows.
Short term trade setup
LONG GBPUSD
@1.2460-40
TP: 1.2600
SL: 1.2510
Good luck !
The 4-hour right side is down with a bearish sequence against the 6/10/20 highs at 1.2823 . The 1 hour is turning up against 1.2249. While a bounce fails below the 6/10/20 highs expect the pair back lower under the March lows.
Sell GBPUSD
@1.2500-1.2530
TP: 1.2410
SL: 1.2560
Good luck !
The 4-hour right side is down against 12/13/2019 peak (1.3522) & shows a bearish sequence. 1 hour is also down in short term cycles against 1.2689 high. Near-term, while bounces fail below there expect pair to extend lower 1 more push before the last leg higher against 12/13/2019 peak can be seen to complete the 7 swings from March lows & resuming the downside.
The 4-hour right side is down against 12/13/2019 peak (1.3522) & shows a bearish sequence. 1 hour is turning down against 1.2814 high. Near-term, while bounces fail below 1.2814 high expect pair to extend lower 1 more push lower before correction against 12/13/2019 peak resume as a zigzag structure.
BUY GBPUSD
@ 1.2410-2375
Target: 1.2550
SL: 1.2320
Good luck !
The 4 hour right side is down against 12/13/2019 peak (1.3522). 1 hour is turning down against 1.2645 high. Near-term, while bounces fail below 1.2645 high and more importantly below 1.3522 high expect pair to extend lower.
Short GBPUSD
@1.2340-65
TP: 1.2250
SL: 1.2400
Good luck !
The daily right side is down with a bearish sequence & the 4 hour right side is down with a bearish sequence against the 12/13/2019 highs at 1.3522. While below 1.2648 where the hourly is turning down the pair can see weakness continue.
Short term Signal
Sell GBPUSD
@1.2445-55
TP: 1.2380-50
SL: 1.2500
Good luck !
