Daily technical & fundamental analysis for multi-forex pairs

luckyanand12

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154
GBP/USD analysis | Buy trade following a 3 Drive pattern | Keon Consultancy
As you know that 3 Drive is a reversal pattern, it may cause at least 30% move if it doesn't complete its classic target. The classic target is swing high of the last drive. But, we will already close half of the position at 1/4 of the whole 3 Drive and rest half at 30% of the whole 3 drive because D1 trend is still bearish.


Here is what we see on H1 and H4 time-frames and how we entered.

GBP USD, H1, June 30, 2020.png


GBP USD, H4, June 30, 2020.png
 

luckyanand12

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154
Update on EUR/USD | Forex Fund Manager | Keon Consultancy
This video is an update on previous EUR/USD analysis. The video also explains new technical setups formed meanwhile.
Eventually, we closed the sell trade @ 1.1198 with +80.0 pips. We require price to penetrate below low of June 25 for further bearish context. If it does, we can find a new sell trade setup after penetration below low of June 25 followed by an upward tracement up and a bearish candle pattern to target 1.1150 again.
 

luckyanand12

Corporal
Messages
154
GBP/USD analysis | Buy trade following a 3 Drive pattern | Keon Consultancy
As you know that 3 Drive is a reversal pattern, it may cause at least 30% move if it doesn't complete its classic target. The classic target is swing high of the last drive. But, we will already close half of the position at 1/4 of the whole 3 Drive and rest half at 30% of the whole 3 drive because D1 trend is still bearish.


Here is what we see on H1 and H4 time-frames and how we entered.

View attachment 55237

View attachment 55238
TP1 reached.
 

luckyanand12

Corporal
Messages
154
GBP/USD analysis | Buy trade following a 3 Drive pattern | Keon Consultancy
As you know that 3 Drive is a reversal pattern, it may cause at least 30% move if it doesn't complete its classic target. The classic target is swing high of the last drive. But, we will already close half of the position at 1/4 of the whole 3 Drive and rest half at 30% of the whole 3 drive because D1 trend is still bearish.


Here is what we see on H1 and H4 time-frames and how we entered.

View attachment 55237

View attachment 55238
TP2 reached too.
 
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