GBPUSD analysis using Supply&Demand

Discussion in 'Technical Analysis' started by SteveF, Oct 30, 2019.

  1. SteveF

    SteveF Active Trader

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    GBPUSD.jpg

    GBPUSD is in a very interesting position. Supply and demand boundaries define the borders for future movement. Upside:Break 1.3000 we should go to 1.3400. 1.2780 is key support level for a break downside, then past 1.2650 into 1.2500
     
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  2. SymphonyTrading

    SymphonyTrading Trader

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    GBPUSD looking bearish in multiple time frames. Target around 1.2800 gbpusd4h.jpg gbpusd15m.jpg
     
  3. SteveF

    SteveF Active Trader

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    Hi Symphony Trading - for me, I need to see a break below 1.2878 to get bearish - daily chart is bullish in my opinion in a bull flag. It could very well go lower of course, but I wait to see what the 1.2878 challenge brings.....
     
  4. SteveF

    SteveF Active Trader

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    Hi Symphony trading, you were correct on the move down and hope you took advantage of it. A key level has broken and we'll see if this bearishness continues .....
     
  5. SymphonyTrading

    SymphonyTrading Trader

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    Hi, thank you for your input. I like your analysis. I'm sorry for jumping on your thread. It's hard sometimes to find a good thread to post ideas in.
     
  6. SteveF

    SteveF Active Trader

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    Please jump in, that is the purpose! It is learning and fun to discuss what others see!
     
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  7. SymphonyTrading

    SymphonyTrading Trader

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    Cool! Thanks. Any other pairs you're interested in or other markets? I also like to daytrade emini s&p futures and short term trade stock options.
     
  8. SymphonyTrading

    SymphonyTrading Trader

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    I was looking at XAUUSD also looking bearish on a daily frame. I see support at around 1480 and lesser at 1460 which it's already broke thru. The candles are in heiken-ashi. My target at around 1430
     

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  9. SteveF

    SteveF Active Trader

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    Hi - unfortunately my broker account only has forex pairs, no gold or other metals. I look at any pairs made from USD, GBP, EUR, JPY, CAD, NZD and AUD
     
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