ForexWeeklyAnalysis
Long

Pending Long GBP/USD mid 1.65XX / 1.64XX Region

FX:GBPUSD   British Pound/U.S. Dollar
127 12 2
First entry: mid 1.65XX region (potential bullish flag, created via parallel line from top trend line)
Second entry: mid 1.64XX region (long term upward trend line)

Trade is considered void if price closes below 1.6400.

First target: mid 1.67XX region
Second target: 1.7000

This trade is more suitable for position traders than it is for day/swing traders.
itaskar
2 years ago
I have put in first longs at 1.6555, SL below your trendline
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ForexWeeklyAnalysis itaskar
2 years ago
I didn't fill yet, debating if I should wait for the green trend line or not.
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itaskar ForexWeeklyAnalysis
2 years ago
iam using ichimoku, and weekly kijun sen is in this hight, it can be difficult to go thru, so i decide to go in, of course is possible to break it. I filled it with small amounts. Lets see candle patterns.
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itaskar ForexWeeklyAnalysis
2 years ago
i went out..pending orders 1.6460-70
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Took a long at 1.65437, got another one pending below at the green trend line.
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itaskar ForexWeeklyAnalysis
2 years ago
yep, Iam in again 1.6540, pending orders at the green line
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ForexWeeklyAnalysis ForexWeeklyAnalysis
2 years ago
I got out for a couple pips, I'd rather wait for the green trend line.
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Despite price moving down to a low of 1.64793, I didn't fill my long yet... I have my pending long at 1.6470.
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ForceFollower
2 years ago
I don't know, a tough call for me (so I'm not in). It may want to bounce and make another rally. Or it may be already headed for the median line (and two support levels: 1.64444 or even 1.64).
snapshot
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ForceFollower ForceFollower
2 years ago
For the record, those support levels I mentioned were short-term and derived from a different chart.
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ForexWeeklyAnalysis ForceFollower
2 years ago
GBP/USD in my mind at about 60% probability right now, so I'm still leaning towards the long side. Having said that, my bias on this trade isn't as strong as the other set ups, so I may not load as heavy here unless we get a bullish pinbar today then I'll load heavy next week on a retrace.
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ForexWeeklyAnalysis ForceFollower
2 years ago
After taking into account the potential for more downside risk, I've reassessed the situation and have posted the new analysis here:
Pending Long GBP/USD mid to low 1.64XX region
. Note: I still have a long bias.
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