GBPUSD Trend Forecast for the week 21st - 25th March 2016.
At the moment GBPUSD is heading for 1.4283.
At the moment GBPUSD is heading for 1.4283.
Part 2 EURUSD Trend magic System
A trade on GBPUSD takes the profit target using the trendforecast_v1.2.ex4 triangle trend lines. In my previous post it was stated that the "GBPUSD is heading for 1.4283", a trade was placed for the forecast, the chart screenshot for the trade is attached.
The Trade
Target Reached
A guide on how to make use of the triangle trend line is compiled with the attached trendforecast_v1.2.ex4.
MT4 Build 950
MT4 Build 910
MT4 Build 765
When attaching the EA to chart, ignore the INPUTS required and click OK button to load it and Allow DLL function must be enabled for the EA to work.
Currently works with AUDUSD, NZDUSD, GBPUSD and EURUSD ON 1hour and 4hour timeframe.
The Trade
Target Reached
A guide on how to make use of the triangle trend line is compiled with the attached trendforecast_v1.2.ex4.
MT4 Build 950
MT4 Build 910
MT4 Build 765
When attaching the EA to chart, ignore the INPUTS required and click OK button to load it and Allow DLL function must be enabled for the EA to work.
Currently works with AUDUSD, NZDUSD, GBPUSD and EURUSD ON 1hour and 4hour timeframe.
A little detail about the triangle trend line
The triangle trend line identifies the current market bull and bear force. When the triangle is facing up the price is actively bullish then when the price cross into the triangle facing down the bear force is active. This help to identify when to buy and sell a trade.
Any questions and comment regarding the trend forecast is welcomed.
The triangle trend line identifies the current market bull and bear force. When the triangle is facing up the price is actively bullish then when the price cross into the triangle facing down the bear force is active. This help to identify when to buy and sell a trade.
Any questions and comment regarding the trend forecast is welcomed.
A trade today March 29, 2016, I use the triangle trend line strategy of trendforecast_v1.2.ex4 on NZDUSD.
TRADE
AFTER TRADE
The trendforecast_v1.2.ex4 strategy offers an excellent method of identifying a trade opportunity.
TRADE
AFTER TRADE
The trendforecast_v1.2.ex4 strategy offers an excellent method of identifying a trade opportunity.
- #509
- Edited 7:59am Mar 30, 2016 5:14am | Edited 7:59am
- | Commercial User | Joined Jan 2016 | 99 Posts
GBPUSD Forecast for 30th March 2016.
LONG PATTERN
The current bullish triangle facing up is currently overbought for the 1.4501 level; it will be more comfortable for the price to correct into the next bullish triangle facing up; indicated in the LONG PATTERN image, to trade for the 1.4501 level on route for 1.4569 level. Any price push up towards the 1.4501 level in the current bullish triangle will be a risk on trade.
SHORT PATTERN
And for a sell trade to occur, the price has to break through the now support green trend line as indicated in the SHORT PATTERN image to target the 1.4283 level.
LONG PATTERN
The current bullish triangle facing up is currently overbought for the 1.4501 level; it will be more comfortable for the price to correct into the next bullish triangle facing up; indicated in the LONG PATTERN image, to trade for the 1.4501 level on route for 1.4569 level. Any price push up towards the 1.4501 level in the current bullish triangle will be a risk on trade.
SHORT PATTERN
And for a sell trade to occur, the price has to break through the now support green trend line as indicated in the SHORT PATTERN image to target the 1.4283 level.
GBPUSD Forecast for 30th March 2016. LONG PATTERN {image} The current bullish triangle facing up is currently overbought for the 1.4501 level; it will be more comfortable for the price to correct into the next bullish triangle facing up; indicated in the LONG PATTERN image, to trade for the 1.4501 level on route for 1.4569 level. Any price push up towards the 1.4501 level in the current bullish triangle will be a risk on trade. SHORT PATTERN {image} And for a sell trade to occur, the price has to break through the now support green trend line as...
EURUSD
On EURUSD, in my opinion, even though I don't have any open trade on EURUSD at the moment, but if I had a open trade on EURUSD, I will close it now and look for a selling opportunity in the upcoming bearish triangle facing down using the trendforecast_v1.2.ex4 rules.
GBPUSD Forecast Update 31st March- 1st April 2016.
A interesting formation pop up from my trading archive on EURUSD within the period 2015.05.11 to 2015.06.30, something similar may occur tomorrow on GBPUSD, so trading tomorrow especially at the non-farm payroll release calls for caution.
EURUSD FROM ARCHIVE
GBPUSD WATCH-OUT
HEAD AND SHOULDER SPOTTED
If a rejection of the bullish triangle occurs between now and end of trading tomorrow, it will confirm a HEAD and SHOULDER pattern I have spotted. And for now in my own opinion, I have closed all Buy trade on GBPUSD.
