TerryHarmonicTrading
Giá xuống

GBPUSD hits top of daily channel, waiting for bearish setup

FX:GBPUSD   Bảng Anh/ Đô la Mỹ
This is an update to my GBPUSD analysis I talked about last week.

GBPUSD has hit top of daily channel with excessive volume (See daily chart ).

This likely suggests that buyers could have cashed out since price has not moved up for the past 2 days.

I see this formation as being weak and I will be looking for short opportunities above 1.3570.

What I will look out for?

1. Weak break out above last week high on LOW volume
2. Mid to high volume bar, high spread closing on the lows.
3. Will enter upon completion of 2)
4. Will target low of channel as profit target, risking about 100 pips to make about 500 pips.

Will keep you guys posted.
Giao dịch đang hoạt động: Went in long after FOMC around 1.3490. Hoping for a good ride to 1.3050.
Bình luận: Bears have won the battle yesterday. Commodities should drop first, but I believe GBP will be next. Do not catch a falling knife. Do check out my GBPAUD short idea for another potential shark sell in the next few trading days.
Bình luận:

Will be tough for GBPUSD to head higher with the high volume selldown at the top of the ed channel. The path of least resistance should be bear in the upcoming week.
Bình luận: Bulls and bears still fighting. I'm standing on bear!
Bình luận: pound is still struggling to fall. Once it really decides to fall, I know it will be a nice big fall!

Still holding on to my shorts from 1.3490.
My stops are at 1.37.
TP will be close to 1.3050.
Bình luận:

Last week's multiple effort to move GBPUSD higher failed.

Even with excessive (Black) volume, price still did not manage to break above the ED H4 channel it is trading in.

With that high effort and no results, I expect lower prices still for GBPUSD to around 1.3 - 1.31 this week.
Bình luận: +230 pips and counting
Bình luận:

Price might bounce up today.

Setup is still safe as long as price continues to trend within ED channel.

Good luck, we are riding on +240 pips of profit, another 200 pips to my eventual target profit.
Bình luận: 38 pips more before it hits my TP. This is an amazing ride, who is with me? Anyway, tonight is NFP, I might close my trades before NFP. Will keep you guys posted.
Đóng lệnh: đạt mục tiêu: Manually closed this off at 1.3060 before NFP. Contented with 430 pips of profit. Gonna enjoy my weekends.
missed this one Terry... nice call.
Phản hồi
nice one bro @TerryHarmonicTrading
Phản hồi
@johnle, thanks man. Which John are you?
Phản hồi
johnle TerryHarmonicTrading
@TerryHarmonicTrading, no,just nickname lol
Phản hồi
Good call!
Phản hồi
@genkumag, thanks man. Appreciate your follow!
Phản hồi
Hi terry,

I def like your work and the way you trade. I have a question. Where can i learn to read volume the way you do ?

Sorry if my english ain't really good i come from France.

Thanks,

Anthony
Phản hồi
@Forexcellent, Hi Anthony, thanks for reading my work. Drop me your email and I will send u something useful on volume.
+3 Phản hồi
good entry. a very high chance for GBPUSD to have corrective down move
Phản hồi
VI Tiếng Việt
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Trang chủ Bộ lọc cổ phiếu Bộ lọc Forex Bộ lọc Tiền điện tử Lịch kinh tế Cách thức hoạt động Tính năng Biểu đồ Quy tắc Áp dụng Người điều hành Giải pháp cho Website & Nhà môi giới Widget Thư viện Biểu đồ Chứng khoán Yêu cầu tính năng Blog & Tin tức Câu hỏi thường gặp Hỗ trợ & Wiki Twitter
Hồ sơ Tùy chỉnh Hồ sơ Tài khoản và Thanh toán Ticket Hỗ trợ của tôi Liên hệ Hỗ trợ Các ý tưởng đã đăng Người theo dõi Đang theo dõi Tin nhắn riêng Trò chuyện Đăng xuất