100 SMA Setup for 1000 to 1400 pips upside with 170 pips stop!!!
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100 SMA Setup for 1000 to 1400 pips upside with 170 pips stop!!!
I am sharing my view on gbpusd from last monday to go long as per its old chart patterns.. from 1.29 and so far gbpusd has worked exactly as per its old chart patterns.. Near term i am expecting move towards 1.3166 and from there it can fall and go 1.277 or below or if it keeps upside momentum then i am expecting a move towards 1.437 and high!!! All depends on gbpusd trading above 1.315 and in short term it has to clear 1.3125 to keep bullish momentum going..
For now as far as it is trading above daily 100 sma which is close to 1.291 and its low of last week 1.2871.. I think it is going above 140.. In chart you can see on left side it kept 100 sma and went towards 1.437 and last year once it broke above 100 sma close 1.241 it went exactly 1100 pips...!!!!!!!!!!!!! So last monday it remained supported above 100 sma and I shared in my charts to remain bullish above 100 sma..
If i see bearish setups above 1.31 then i will share to sell as well... because above 1.315 or close to 1.32 it can fall like a knife towards 1.24 and below it...!!!!!!
For very short term.. a move above 1.31 is expected if 1.298 holds!!!!!! Consolidation will remain but i think market is not ready to go 1.25... Break and daily close of 100 sma will negate my bullish setup othewise gu will rock upside!!!! Risk reward is very high!!!!!!
I am sharing my view on gbpusd from last monday to go long as per its old chart patterns.. from 1.29 and so far gbpusd has worked exactly as per its old chart patterns.. Near term i am expecting move towards 1.3166 and from there it can fall and go 1.277 or below or if it keeps upside momentum then i am expecting a move towards 1.437 and high!!! All depends on gbpusd trading above 1.315 and in short term it has to clear 1.3125 to keep bullish momentum going..
For now as far as it is trading above daily 100 sma which is close to 1.291 and its low of last week 1.2871.. I think it is going above 140.. In chart you can see on left side it kept 100 sma and went towards 1.437 and last year once it broke above 100 sma close 1.241 it went exactly 1100 pips...!!!!!!!!!!!!! So last monday it remained supported above 100 sma and I shared in my charts to remain bullish above 100 sma..
If i see bearish setups above 1.31 then i will share to sell as well... because above 1.315 or close to 1.32 it can fall like a knife towards 1.24 and below it...!!!!!!
For very short term.. a move above 1.31 is expected if 1.298 holds!!!!!! Consolidation will remain but i think market is not ready to go 1.25... Break and daily close of 100 sma will negate my bullish setup othewise gu will rock upside!!!! Risk reward is very high!!!!!!
Nota
gbpusd at make or break level!!!! A jump from 1.2975 can take it towards 1.317!!!! watch out 100 sma!!!
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