GBPUSD: Looks bearish, but I am buying
GBPUSD: Looks bearish, but I am buying. I wasn't going to record this trade, but I want to clear off my charts.
Technical:
(1) uHd
(2) Convergence of fib and horizontal support wherein price had a reaction, although NOT IDEAL
(3) ABC completion level
(4) EL Pattern
(5) CROWN pattern, but actually this pattern does not qualify, so scratch that.
Bet:
(1) Behind all of this is my inclination to bet that the GBP will rally when the official Brexit of Article 51 is enacted. It is a gamble, yes, but a well thought out one.
For me, the reward outweighs the risk:
Risk: $25 - $35
Reward: $100 - $500.
Technical:
(1) uHd
(2) Convergence of fib and horizontal support wherein price had a reaction, although NOT IDEAL
(3) ABC completion level
(4) EL Pattern
(5) CROWN pattern, but actually this pattern does not qualify, so scratch that.
Bet:
(1) Behind all of this is my inclination to bet that the GBP will rally when the official Brexit of Article 51 is enacted. It is a gamble, yes, but a well thought out one.
For me, the reward outweighs the risk:
Risk: $25 - $35
Reward: $100 - $500.
Trade active:
Trade closed manually:
Waiting again
Capturing the swings of the stock market & currency market. It's a dirty job and equity/currency traders must do it.
