SmartTradingFX
Short

GBPUSD: Short From That Solid Structure Zone Once Again?

FX:GBPUSD   British Pound/U.S. Dollar
1439 14 20
Analysis on chart!

Price back into that solid structure zone for the eighth time forming a Double Top, Harmonic Legs (1H), 1.272 Fib Extension, 1.414 Fib Inversion, 1.618 Fib Extension!

Two potential good targets offering a great Risk Reward!

Likes, Comments and or Constructive Feedback is welcome as always your support means alot!

SMART TRADING
Ice_
a year ago
Good scalp, but a dangerous one. It's clearly trend-contrary.
+1 Reply
SmartTradingFX Ice_
a year ago
Hi Gruber, Why would it be a dangerous one?
Reply
asiansupermarket SmartTradingFX
a year ago
It looks like it wants to break out. The tests/consolidation to the upside is more common than the downside accumulation. When it dips there is a cup (accumulation) and at the top there is sharp up down (consolidation)
+1 Reply
Ice_ SmartTradingFX
a year ago
How I see it: http://puu.sh/jE0Sz/a9ff92989b.png
+1 Reply
MaryJane
a year ago
thx for sharing..i have a similar view
The Pair tested 9!!! times the Level between 1,5645- 1,5685.
When it worked 9 times to short that Pair, will it work once again?
In my opinion it looks too easy to fix that Level again because the strong Resistance Cluster is too obvious. The Short Chance/Risk-Ratio is appealing. I have illustrated the possible short Position in my Chart.
IMO, the resist will fall, the pair will reach new HIGHS. The BUY-Trigger is still above the mentioned Level (1,5685). For the bullish szeanrio i also Show a possible longtrade in my Chart. Good luck! Good Trades!

Former Analysis:https://www.tradingview.com/chart/GBPUSD/XtGNzbJj-LongTerm-1-2-3-Breakout-Chance-Target-1-6145/
snapshot

Good things need time: Will the Pair beat its strong resist @ 1,5675? If yes then the pair could make a new HIGH @ the uptrend channels upper edge @ 1,6145.
+1 Reply
SmartTradingFX MaryJane
a year ago
Thanks for your comment and sharing your chart! I can understand what your saying and eventually it will break out and I believe when it does we will get a strong move one way or another! When a trade meets my plan and criteria and I get a valid signal then i must take the trade, thats me personally! Some may wait to see if the breakout occurs and catch that stronger move! Thanks again for your comment its very much appreciated!
Reply
MaryJane SmartTradingFX
a year ago
You are welcome :-) and sorry, i forgot to attach my newest chart ^^
Update: GBPUSD reached Selling Zone / Breakout Zone
snapshot

https://www.tradingview.com/chart/GBPUSD/1bd9NLGc-GBPUSD-Short-From-That-Solid-Structure-Zone-Once-Again/#tc217838
+1 Reply
SmartTradingFX MaryJane
a year ago
Nice! Thanks for sharing continue to do so and keep up the good work! I'm hoping for the move downwards :)
Reply
MaryJane SmartTradingFX
a year ago
the market met your expectation :-) Congrats!
+1 Reply
SmartTradingFX MaryJane
a year ago
Thank you Sir! Also +75 PIPs from GBPJPY :)
+1 Reply
-Alexander-
a year ago
good prediction. it goes the way you predicted.
+1 Reply
meganjack
a year ago
GBPUSD Short
Reply
Shukz
a year ago
at the current price chart...still possible heading to 2nd tp?
Reply
SmartTradingFX Shukz
a year ago
Hi Shukz, I actually closed out my position just below the even handle! I never do this and always let my trades ride or get stopped out! There was high impact news coming out on the GBP and i wanted to bank some profit so +42 pips was the outcome for me! Regarding your question we may well have seen some continued downside but news seems to have shifted momentum...
Reply
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