GBPUSD about to break to the upside (after a little dip perhaps)

6 giorni fa

I think we're very close to the top of the current move up, and we'll then see some pullback before heading higher still.

I've used an example from BTCUSD 2020 chart [on the 30m chart] as it lines up perfectly with where we currently are (white arrow).

Below is how I see this playing out:


And here, you can see from a previous reversal on GBPUSD that we drop out and continue heading up:


Right now, I think we won't get much higher (if at all) than the 1.26800 range.

I'll update this post as more ideas/thoughts come in over the next days :)

Thoughts?

5 giorni fa

Trade attivo

Just putting the charts side by side (previous pattern in left purple box), this is how I see the move happening over the coming trading days:


(currently short from 1.26550 until we hit 2 - will be scalping between the numbers basically)


4 giorni fa

Nota

So it ran up briefly but i'm not too worried and held my position, and here's how I'm seeing things...

One is on the 4hr chart, and then the current one is on the 5m chart.

The patterns line up enough for me to think that we saw the peak yesterday and should start dropping out.

4hr chart:


5m chart:

4 giorni fa

Nota

Hit a good resistance zone, so going to do a quick scalp play on this. Overall target is still a move down to 2 (as in 1 to 2 which I drew on a previous note above - these numbers don't mean anything, it's just an easy way for me to explain where I'm talking about).



Back on LONG at 1.26338 for now to see where it takes me for a quick scalp play (and hopefully it doesn't keep moving down just yet).

4 giorni fa

Nota

I think we've found a bottom for now - I scrapped my scalp playing after one trade (for nothing more than chump change) as I realised it was just going to drip down like GBPUSD does.

Definitely ready to take back a LONG position for a little swing to the upside before more fall out - current entry at 1.26063

The chart below is the game plan for me as it stands (example of a previous "1 to 5" move further down the uptrend highlighted with the blue numbers).

Hopefully the supports/resistances I've marked for this move hold up - I could see this pushing lower than where I've marked 4, but will decide that as we get more chart data in.

For now, happy with this trade so far - let me know if you have any thoughts/ideas/anything I might have missed.

15 ore fa

Nota

So I don't think this is the run up just yet... it spiked hard today and I was lucky to be on the right side of it (more by fluke, not my analysis) but I think it's going to reject this high and come down.

Could be wrong and this is the move up I've been waiting for though... currently unsure but have decided to take a short position at 1.26844 for now and see where it goes over the next trading day(s). It could still run a little high from where it is now, but I'm not chasing it for now.

If we get down to the 1.25000 range ahead of Friday, I'd like to think that NFP will be our answer to the upside but let's see how the week shapes up first.

Will try to post an explanation on how I missed today's move up, but regardless, it's still coming down IMO.