Gdpusd
GDPUSD: Ascending triangle pattern (Wait for confirmation)After GDP:USD hit a double top at the resistance I've been bearish ever since. I think we will breakout of this ascending triangle pattern.
Wait for confirmation at the lines of the triangle. If breaks down, set a short trade & the target will be the trend line.
If stop-loss is broken go long.
GDPUSD, my plan for the dayAs drawn in the chart... a pullback till 0.5 fibo level and then to complete a AB=CD pattern to 1.618 level !!!
GDPUSD keeping an eye on it !!!It looks like the gdpusd is offering a good edge, Risk/Reward ration 6.15 !!!
This very important informationThis forecast is the figure of a trend reversal in UP, if the trend weakening of the upward movement is possible to start moving downward trend
How Will The USD React to Today's Fundamentals? Don't Gamble! From the lower time frames, the USD looks rather bullish, the reason for that is clear when you look at this daily chart. Over the last week or so, the dollar has made a significant rally and when looking at this rally on the lower time frames it appears the the USD is in a strong uptrend that will likely see new structure highs. However, with that being said, when we move up to the higher time frames on this pair like the daily and the weekly we see this clear range that price action has been trading in. With the underlying trend of this pair from a very long term perspective being bullish, this range and/or "pattern", if you would like to call it, can be signified as a bullish pattern if in fact price action does break out of the pattern to the upside. However there is a very good chance that price action could continue trading in this range for a few more weeks. With price action being bucked up at the top of this range and some very important US fundamentals coming out in under one hour there is a strong possibility that, if this market wants to continue ranging, the upper trend line will hold as resistance and price action will make a downward move to the bottom of the range. Is there potential for the upside break out to occur today from the US data being released today? Sure, there is always that possibility, but it is a total gamble. To conclude, as very few retail traders are equipped with an all mighty crystal ball, it would be best to remain in cash during the US data release and wait for the market to digest the data before looking to get involved in any positions. After the market digests the data then look to get involved and ride out some of the momentum that resulting from the data release. This will present the least amount of risk and give the highest percentage of successful trades as the "market makers" will decide where the markets are going this morning, and once those decisions are finalized the markets will, without doubt, move in which ever direction has been decided for them. Good luck to you all, and hopefully this will open up the eyes of some of the traders that find themselves gambling on a daily basis.
GBP/USD Daily PrespectivePatterns can be failed very unexpectedly.
Patient is the key of success. Open your trad on a strong trend.
Later I will explain about how to adjust SL and TP.
I will also explain how to get reversal signal and have more confidence on your decision.
It's all about Risk to Rewards. Get yourself mentally ready and deal for long term instead of amateurish scalping.
Email me if you have any question: [email protected]
