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GBPUSD Medium cycleGBPUSD is in a bullish channel. its have 2 hunts to this channel lines. i think normal time for third hunt is at next 22 bars in 1.29840 price. now if its hunt sooner its show that the power of bearish trend increasing. and if its hunt later show that the bullish trend power is increasing. why do i thinks so ? because i compare that whit its last hunt. also the DXY had strong bearish trend and its resting now. i think the bearish trend can continuo. Its just my personal comment please don't trade whit this. I have no responsibility for your money.
Long
by Arco-ir
GBPUSD analysis week 29GBP/USD ended the session in a relatively tight range below 1.2650 after the US Bureau of Economic Analysis released data on the Personal Consumption Expenditures (PCE) price index, the preferred measure of inflation of the Federal Reserve (Fed). Despite the UK's positive GDP report, it still cannot lift the strength of the GBP too much, After recovering from the week's low hit last Wednesday, the GBP/USD pair limited losses and remained below the psychological level of 1,270, a key threshold for buyers to regain control. Sellers are also under less pressure as they face strong support at the 1.256 area because there is a gap in liquidity at a fairly wide price range. Previously, at the support area of ​​1,260, the profit-taking area of ​​investors last month was also an area to pay attention to for scalping signals. The relative strength index (RSI) shows that sellers remain in control, meaning more losses are expected. Support: 1,260 -1,256 Resistance: 1,269 - 1,273 Trading signals: SELL GBPUSD zone 1.273-1.275 SL 1.277 BUY GBPUSD zone 1.256-1.254 SL 1.252
by TVS-Trader
Would you take a little of Wyckoff again ?I will not develop the wyckoff accumulation pattern again, I made already a lot of idea about it in the past few days and on short timeframes and don't really have time to write a lot right now on a trading session. So I will just say that we are always in market psychology pattern, the accumulations of this ones on the few last support, show the interest of institutionnals to find a level which can act like support. The daily plan develop in the LDTP idea is always in activity and before the close of a candle there is no conclusion to be drawn. I just note that I like the fact the spring of this Wyckoff accumulation pattern happen on the top level of the major support area. If we close back up tonight it could be a good candle of pressure, with volume, and new level added in the pattern. "Making money in trading is math and respect of strategy, so never let your emotions guide you in uncomfortable positions" PS : I'm sorry for the entry signal, too short timeframe to be post as idea. I'm actually in on the spring, breakeven already. I will try to post signal on retest of support or SOS/LPS of resistance if I have time to write it at time and if we go for it.
by Kentg
6