GBPUSD - Buy off daily channel
GBPUSD failed to fall lower even though the GBP news earlier was bad.
This likely means that the big players wants a stronger pound and the bad news earlier was just to flush the weak longs away.
Maintain buy on GBPUSD.
EP: 1.31 - 1.3120
SL. 1.3030
TP: 1.33
TP2: 1.36
This likely means that the big players wants a stronger pound and the bad news earlier was just to flush the weak longs away.
Maintain buy on GBPUSD.
EP: 1.31 - 1.3120
SL. 1.3030
TP: 1.33
TP2: 1.36
Trade active:
+100 pips and counting. Hold on to 1.33 for first TP.
Comment:
1.33 first profit target will be hit soon.
Highly recommend to take some profits off the table.
I will be squaring off 1/2 of my positions for a 200 pips win.
Highly recommend to take some profits off the table.
I will be squaring off 1/2 of my positions for a 200 pips win.
Comment:
1st TP of 200 pips reached few hours back at 1.33.
Took about a week of waiting.
Anyone with me on this?
Took about a week of waiting.
Anyone with me on this?
Comment:
If you are still holding some long positions with me, my targets are at 1.36.
As long as 1.3280 is not broken below, the uptrend remains intact.
For next week, consider buy off the lows when it comes to the lower boundaries of the channel or if it comes to the previous support around 1.3280.
If you are still holding some long positions with me, my targets are at 1.36.
As long as 1.3280 is not broken below, the uptrend remains intact.
For next week, consider buy off the lows when it comes to the lower boundaries of the channel or if it comes to the previous support around 1.3280.
Have adjusted my stops to 1.3120 for now.
If news is bad, might scoop it up when it comes back down again.