Jigneshのブログ

Avatar

GBPUSD - Once again

Having posted about twice already in the past few days, this will be my last GBPUSD Blog post (maybe!)
In my previous posts, I was bearish, however, did not take the short position. As the pair traded higher, I adjusted trendlines and fib levels, to make it fit a bearish scenario.
Why exactly? My wave analysis shows the up move is completed. Though it is possible that the pair is setting up for a second leg higher, I don't see it as a likely scenario with 2 months away from the Brexit referendum…
全て読む
翻訳する: 英語 オリジナルを表示
もしくはコメントを残す
Avatar

Revisiting the GBPUSD Chart

A few days ago, I posted a bearish perspective on GBPUSD.
Yesterdays price action was quite strong to the upside. The pair easily took out several levels of resistance, and is in break out mode.
Nevertheless, I'm stubbornly unconvinced of a long term bullish trend in the pair.
The primary reason behind my analysis lies behind the elliott wave structure of the move down. Nevertheless, I've redrawn the channel by connecting the bottoms, and once again we are near the top of the channel.
Though, th…
全て読む
翻訳する: 英語 オリジナルを表示
もしくはコメントを残す
Avatar

GBPUSD Channel Break confirms Bearish turn

The GBPUSD showed good upside in the month of March, however April has once again shown signs of bearishness.
The 4H Chart below provides an outlook
On the chart we see a clear break of the up channel. We are now potentially forming a down channel with two failures at new highs which make for a succession of lower highs.
Support at 1.4050 continues to offer value buying to bulls as the pair is supported on the monthly charts, as well as a monthly bullish engulfing candle in the month of March.
T…
全て読む
翻訳する: 英語 オリジナルを表示
もしくはコメントを残す
Avatar

GBPUSD - Pull back or Reversal of Trend?

The British Pound posted impressive gains last week. And that too, without any catalyst in place. Throughout the week we saw minimal retracements as the price marched higher, which is usually a sign of unusual strength.
But it is still unclear if the trend is reversed, or if the move is merely a pull back against the main down trend.

The chart below shows GBPUSD retracing already 50% of the move down, and that without a catalyst.
On Tuesday we have inflation related data coming out of the UK. T…
全て読む
翻訳する: 英語 オリジナルを表示
もしくはコメントを残す
Avatar

GBPUSD Showing Buying Strength into yesterday's London Close

The British Pound saw buyers stepping in with a vengeance leaving a strong bullish candle on the 4H chart yesterday going into the London Close.
The chart below shows clearly the strong momentum buying ahead of quite a few risk events this week for the GBP.
The long legged doji which closed at 1.5397, can now offer strong support on dips for buying opportunities.
全て読む
翻訳する: 英語 オリジナルを表示
もしくはコメントを残す
Avatar

After the Fed - What's Next?

Last week's Fed statement left the market with appetite to buy the USD. Specifically it is this part of the statement that led a strong conviction to the markets that they have not closed doors to a Dec Rate hike .
In determining whether it will be appropriate to raise the target range at its next meeting, the Committee will assess progress--both realized and expected--toward its objectives of maximum employment and 2 percent inflation

What stood out from the statement was the specific referenc…
全て読む
翻訳する: 英語 オリジナルを表示
もしくはコメントを残す
Avatar

GBPUSD Testing it's Daily Trendline

A surprising sell off on a weak NFP number, nevertheless the pair is testing critical support at it's daily trendline.
This is an area where we can see a bit off a pull back, before the downtrend really starts to get going.
全て読む
翻訳する: 英語 オリジナルを表示
もしくはコメントを残す
Avatar

Daily Fractal Pattern suggest further downside in August

The GBPUSD has been quite bullish since bottoming mid April. As of late, however, the pair has been struggling to make any significant weekly advances.
There is a pattern that has already been seen on the daily chart, that has now appeared in fractal form on the 4H chart. On the daily it marked a point of turn in price, and the expectation will be the same for 4H, which can trigger further bearish price action in the month of August.
Levels
1.5690 - July 29 Spike high ** Key resistance and patte…
全て読む
翻訳する: 英語 オリジナルを表示
WallStreet6 avatar
WallStreet6 2015年08月02日

I'm also anticipating the cable turning into bearish trend, but first I thought it was going to appreciate.  But maybe you're right that the bullish sentiment is running out.

Jignesh avatar
Jignesh 2015年08月02日

I agree WallStreet6 .. I've been long this pair for over 3 weeks now.  Was expecting a lot more upside than we've seen.  Looking for an pullback towards resistance early week and then the bearish trend to start.  A break above recent highs would invalidate my wave count.

Jignesh avatar
Jignesh 2015年08月07日

This week we've had 2 big moves in the GBPUSD. First was after a weaker than expected MPC Vote, it triggered a nice selloff in the pair, and then surprisingly today after a weak NFP number, it caused another sell off.  Currently we are trading at the daily trendline, which has provided some support for the pair.  Will be looking to see if the pair catches a bounce here, before it continues selling off next week.

もしくはコメントを残す
Avatar

GBPUSD Testing Lows Ahead of Weekend

In my previous post I talked about a wave count in the GBPUSD. The count showed a potential completion of the last leg down in the piar. Today we see the pair once again turn bearish to retest lows.
I will be keeping an eye on this 88.6% Fib to see if it holds the downside. The momentum so far looks quite strong to the downside. But unless price breaks here, the view remains that the down cycle has finished.
全て読む
翻訳する: 英語 オリジナルを表示
もしくはコメントを残す
Avatar

GBPUSD Completes First Leg Down - 4H Elliott Wave Count

The GBPUSD wave structure as of late has been a tricky one to count, but with the help of a channel confluence, it looks like the pair in an area that could complete the cycle from 1.5928.
The chart below shows the 4H count
As per the count, the pair has now completed wave (a). We would expected a retracement from this point towards the highs at 1.5928 to complete wave (b) before the pair once again turns bearish in wave (c).
全て読む
翻訳する: 英語 オリジナルを表示
もしくはコメントを残す
もっと