GBP/USD
I have marked out the Asian session with a yellow box and drawn s resistance line at the highest price during the Asian session & a support line at the lowest price recorded during the Asian session. I expect price to breach the resistance line around 1.2934, then i will buy. However if it breaches the support line around 1.2912 then i will sell
I have marked out the Asian session with a yellow box and drawn s resistance line at the highest price during the Asian session & a support line at the lowest price recorded during the Asian session. I expect price to breach the resistance line around 1.2934, then i will buy. However if it breaches the support line around 1.2912 then i will sell
Price is still hovering around the daily pivot for friday (around 1.2920) we have to wait for business activities in the London session to pick up speed because of the weekend fatigue
Price is still hovering around the daily pivot for friday (around 1.2920) we have to wait for business activities in the London session to pick up speed because of the weekend fatigue
Price is testing the resistance line
Price is testing the resistance line
resistance level hit and we are watching for a downward trend
resistance level hit and we are watching for a downward trend
Generally, it is best to trade the edges of the range 2900 or 2938.
And only if the time is right, the edge is lower when you are close to the end of the session.
I've not really tested this on GBPUSD to say 100% that it has an edge, but theoretically it should do okay.
This is an important zone to watch if we are to reverse.
On the intraday, 715x level is important because we broke above this range high. Let us see it this holds on the downside.
This is an important zone to watch if we are to reverse.
On the intraday, 715x level is important because we broke above this range high. Let us see it this holds on the downside.
The second chart is the 15M chart of GBPUSD.
This is an important zone to watch if we are to reverse.
On the intraday, 715x level is important because we broke above this range high. Let us see it this holds on the downside.
I'm long on GBPUSD at 7176 at the pullback level I pointed out. Right now the stops are below the 15M.
I'll move it to BE at the close of this 15M.
I'm long on GBPUSD at 7176 at the pullback level I pointed out. Right now the stops are below the 15M.
I'll move it to BE at the close of this 15M.
EURUSD right now is at its intraday high. If it holds (which is totally possible), my GBP long SL would also be hit.
Generally, both these pairs move together (not exact).
EURUSD right now is at its intraday high. If it holds (which is totally possible), my GBP long SL would also be hit.
Generally, both these pairs move together (not exact).
Update: My SL was hit at BE. I'm flat on GBP right now.
GBPUSD for most part of the last 9 months has been confined inside 1.2500-1.2800.
The price is trading back inside the range again with 1.2800 being tested, it is time to see if we make this as support by breaking and holding or make it resistance.
Short term outlook is range trading till break of 1.2720 on the downside and 1.2800 on the upside.
Chart attached:
Chart:
I agree. The close above the Tuesday's high is important, but we failed today again at the highs.
The DXY is also in a range.
Alternatively, the range low (on 2H, second chart) could be a false break, and we consolidate again b/w the range.
I don't know of any great way to trade right now with an edge. I'll wait for the London tomorrow & see where we are, and then trade the break of where the price is indicating.
I agree. The close above the Tuesday's high is important, but we failed today again at the highs.
The DXY is also in a range.
Alternatively, the range low (on 2H, second chart) could be a false break, and we consolidate again b/w the range.
I don't know of any great way to trade right now with an edge. I'll wait for the London tomorrow & see where we are, and then trade the break of where the price is indicating.
You were right we did fall into a range, todays US session should give clarity, if we remain above 1.2870 then that would be considered bullish for next week london session.
You were right we did fall into a range, todays US session should give clarity, if we remain above 1.2870 then that would be considered bullish for next week london session.
Today on GBP/UDF 5 minute chart i spot a hammer candlestick pattern so i mark the area with a yellow line
Today on GBP/UDF 5 minute chart i spot a hammer candlestick pattern so i mark the area with a yellow line
Another inverted hammer candlestick pattern spotted in a down trend so I wait for additional bullish candles to form before i enter
Another inverted hammer candlestick pattern spotted in a down trend so I wait for additional bullish candles to form before i enter
Price breached the other support line and kept falling so that nullified it.
However, I have found a new support level and marked it again with a yellow line
I expect price to bounce off this line so i can enter a buy trade
Price breached the other support line and kept falling so that nullified it.
However, I have found a new support level and marked it again with a yellow line
I expect price to bounce off this line so i can enter a buy trade
Price is testng the support line
lets see what happens. If it bounces back i will buy but if it breaches i will sell
Price is testng the support line
lets see what happens. If it bounces back i will buy but if it breaches i will sell
Price has broken the support line and is going down so i open a short trade
