Still Bullish On the GBPUSD for me

justforex Updated   
FX:GBPUSD   British Pound / U.S. Dollar
Between 3900 and 3950 I will go long again on this pair.
I put the 100 and 200 MA and the trendlines in to illustrate the trade idea. I dont actually use TA in my own trading. The price and looking back is enough.
Stops I always play out in three figures because I am essentially hitting a T shot into a multi position trade when I approach a trade idea, so I dont mind absorbing 130 - 200 pip stops. So I would probably put stops at 3750/3800.
Target should be open if Brexit goes well.
I did well on the last moves up North with GBPUSD, so if she doesnt play nice with me again its still ok.
Obviously this is an idea, not a signal. It is an Idea that I will be backing with my own money though.

Trade active:
A tentative entry placed at 4080, a very tight stop(for me) of 70 points.
Retail sentiment is mixed on EURUSD and GBPUSD, and I like to see Retail weighted to the opposite direction of my trade in either of these two or both for a bolder drive from the T box.
I would grade this entry as a 5 Iron off the T box. If we get roling down the fairways I will then perhaps go bolder with a solid entry in my anticipated direction.

March in review over the weekend left me feeling quite happy though. I made errors some big errors for sure, but when I was in play I really capitalized effectively.
search mykl on the myfxbook site, and the live account is called Justforexreal, its percentage returns and trade history only, all verified.
It looks like I found fairway, early to tell, but I will check back at 2 GMT and see if I should think about playing another shot.
Today will be a big day for my speculations here, it may not mean the end but could create some delays in any further adding to my position. The fact is is the that Sterling is regarded as the most anti-rsik currency at the moment. So even poor PMI later could still have a limited Bearish effect on the GBPUSD. Lets see what happens.
I will check in later and update.
But to put anyone interested in the picture I have bought in 4 times now cost averaging at 1.4082, My stops are at 1.3980.
Will be nice to hit a home run here, but of course we just dont know what will happen.
NFP has been gracious to my positions. I am really feelimng good about this trade now. Of course after the drop yesterday with that priced in PMI drop plus the sell off that followed it did make me feel like I had over leveraged this position, but I am feeling good again about it.
Weekend News, 6,7,8 April was all for my long term outlook on this trade. Of course its still in its infancy and I think we are a few sessions going north before buying beers, but it really does look great from a fundamental outlook which is what matters on long term trades like this. Technically though if thats your thing it also looks very positive, once the 100 Hour ma is tracking above the 200 ma the TA pundits will bbe saying plenty probably, but right now I am fundamentally confident in my positions. Targets are open, and 1.5 would be nice.
I have closed and banked on this trade, but I am willing to get long again, just waiting for the time.


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