1mn with ForexSurvivor
GBPUSD Tough Lines,
For a 2nd time, our sterling vs. dollar trade has failed with supportable consequences. We plan to hit to hit for a third time a Long sterling position despite the burden sell off on board., for a neglected reason. Let’s analyze GBPUSD 4hr chart:
1. Widened Angle: Chart a trendline with resistance connotations between 2nd and 15th of July , supported by a downsloping trendline with connotations 2nd and 18th of July. You should observe a widening triangle where prices set are higher highs and lower lows. This pattern shows that the market is becoming hysterically volatile, with bulls and bears pouring in – such volatile triangle kills the uptrend.
2. Downward Channel: the support between 2nd and 18th July along with a parallel line on top of July construe a downward channel – note how the support is firm as it connotes 6 points in the form of lower lows. This pattern construe a rebound as long as no close below the trendline is triggered.
3. Falling wedge: using same support as for case 2 study but changing the resistance line by embracing the top of 15 and 23 July. This wedge explodes an uptrend.
If we conclude that two bullish cases should outperform a single one (widened angle), then, the bounce should be effectuated as long as no close below 1.7000 is triggered. Longs start at 1.7040, target open.
(If you are within the seller frame, then be weary once a close above 1.7100 is triggered).
***Rule to Remember: Gaining 20pips out of any free-signal is highly remarkable as such trades are not updated on time or ever.
GBPUSD Tough Lines,
For a 2nd time, our sterling vs. dollar trade has failed with supportable consequences. We plan to hit to hit for a third time a Long sterling position despite the burden sell off on board., for a neglected reason. Let’s analyze GBPUSD 4hr chart:
1. Widened Angle: Chart a trendline with resistance connotations between 2nd and 15th of July , supported by a downsloping trendline with connotations 2nd and 18th of July. You should observe a widening triangle where prices set are higher highs and lower lows. This pattern shows that the market is becoming hysterically volatile, with bulls and bears pouring in – such volatile triangle kills the uptrend.
2. Downward Channel: the support between 2nd and 18th July along with a parallel line on top of July construe a downward channel – note how the support is firm as it connotes 6 points in the form of lower lows. This pattern construe a rebound as long as no close below the trendline is triggered.
3. Falling wedge: using same support as for case 2 study but changing the resistance line by embracing the top of 15 and 23 July. This wedge explodes an uptrend.
If we conclude that two bullish cases should outperform a single one (widened angle), then, the bounce should be effectuated as long as no close below 1.7000 is triggered. Longs start at 1.7040, target open.
(If you are within the seller frame, then be weary once a close above 1.7100 is triggered).
***Rule to Remember: Gaining 20pips out of any free-signal is highly remarkable as such trades are not updated on time or ever.
Recommended Content
Editors’ Picks
EUR/USD regains traction, recovers above 1.0700
EUR/USD regained its traction and turned positive on the day above 1.0700 in the American session. The US Dollar struggles to preserve its strength after the data from the US showed that the economy grew at a softer pace than expected in Q1.
GBP/USD returns to 1.2500 area in volatile session
GBP/USD reversed its direction and recovered to 1.2500 after falling to the 1.2450 area earlier in the day. Although markets remain risk-averse, the US Dollar struggles to find demand following the disappointing GDP data.
Gold climbs above $2,340 following earlier drop
Gold fell below $2,320 in the early American session as US yields shot higher after the data showed a significant increase in the US GDP price deflator in Q1. With safe-haven flows dominating the markets, however, XAU/USD reversed its direction and rose above $2,340.
XRP extends its decline, crypto experts comment on Ripple stablecoin and benefits for XRP Ledger
Ripple extends decline to $0.52 on Thursday, wipes out weekly gains. Crypto expert asks Ripple CTO how the stablecoin will benefit the XRP Ledger and native token XRP.
After the US close, it’s the Tokyo CPI
After the US close, it’s the Tokyo CPI, a reliable indicator of the national number and then the BoJ policy announcement. Tokyo CPI ex food and energy in Japan was a rise to 2.90% in March from 2.50%.