Day trade
/
Buy
Trade view / 20 April 2017 at 6:06 GMT

Weak profit taking confirms positive sentiment for GBPUSD

Partner at 3 C ANALYSIS / 3cAnalysis
United Kingdom
Instrument: GBPUSD
Price target: 1.2905
Market price: 1.2806
Background

The market was unable to build upon Tuesday’s four big figure rise, or break well beyond the 200 day moving average yesterday. Instead, with intraday signals for sentiment overbought, Cable consolidated in a tight range and with only a minor setback.

Prices remained above the 200 day average though, and some Asian buying this morning reflects the underlying positive tone.

Management and risk description

A move to 1.2840 means the stop can be reaised to break even.

Parameters

Entry: Buy in 1.2800/05 area and at 1.2769.

Stop: 1.2736 offered.

Target: 1.2840, 1.2861 and 1.2905.

Time horizon: Intraday, ending 1500 GMT.

Powerful demand
Powerful Demand












Consolidation
Consolidation













Long-term trendLong Term













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— Edited by Robert Ryan

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2y
FBT431 FBT431
Thanks Alan
2y
MSN28 MSN28
Hi Allan, it is above your point of buy now, do you think it is good to buy or you prefer dips?
2y
MSN28 MSN28
Apologies for misspelling your name.
2y
AlanCollins AlanCollins
I prefer dips
2y
Mira Mira
GM Alan,
2y
MSN28 MSN28
Thanks Alan.
2y
ldan ldan
This is a nice call, but I missed the trade again :( .. Never mind

Alan, just found your 200 day MA level is quite different from mine. If I'm not wrong you are using the Exponential MA. Am I right ? How about the 100Day and 13Day's
2y
AlanCollins AlanCollins
Hi Idan. sorry you missed it but think everyone did - just a bit too fast this morning.. re moving averages, yes I generally use Exponential. found that overall that cut out a lot of the 'noise'. Not infallible of course but, in my experience, they are consistantly better.
2y
AlanCollins AlanCollins
RE Call - almost made 1.2840 and so I would now cancel this Trade Idea (no longer buying a dip). Another call tomorrow.
2y
ldan ldan
Thanks Alan for the clarification. and Thanks for the call and revision. Cheers
2y
FBT431 FBT431
Bravo Alan!! Minute to minute and exact first target!
2y
AlanCollins AlanCollins
Thks guys. Fingers crossed the market is as kind tomorrow

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