Long on Wolfe Wave . Buying GBP in the current situation when there is a lot of hoopla about BREXIT is not a wise idea. But if at all it can buy then it should be again EURO since both currencies belong to Europe & both will be getting affected due to BREXIT. So which one is going to get affected more is the question, for that future holds the answer. Know the fundamentals but trade the technicals.
I thought we collectively got it running higher :P Yes, me too not very comfortable with the way it went up. There is no visible strong momentum to the upside, it can turn anytime now. But we made some profit, congrats.
Me, I went short at the trendline, took the profit and left it alone. Now I can see it has kept on climbing higher.
My strategy wouldn't have allowed me to go long GBP, because it's been the weakest currency of late. I was only looking for a good trading opportunity on the short side. :-)
But I'm with full respect for your strategy as well.
Yes, GBP was weakest currency at the time of publishing this idea. As it stands now, it has worked well since I chose to trade it against CHF & EURO which too didnt had much strength. All this weakness is attributed to fundamental views arising due to BREXIT. I made calculated risk that BREXIT will not only impact GBP but also EURO, so went ahead with this idea. Generally, if there was no much fundamental attribution to the currencies, then it would have already reached the target, but now lets see. I m having tiny position as of now just to see if it hits the TP. Thank you for the appreciation :)