InsiderB
Long

GBPUSD : What's happening & what to expect ?

FX:GBPUSD   British Pound/U.S. Dollar
Hey Guys,

You all know I don't use complex elliott waves and have my own rules for doing wave counts & I keep those counts as simple as possible. From last week, most of us are confused whats happening with GBPUSD             , even in chat rooms there is heavy discussion on gbpusd             . When I opened the Gbpusd             , ( Note: I was already annoyed with last week), So I skipped & said to Myself "Ok,next pair ". Before moving to next pair I noticed the wave count and once I did the wave count, it all made sense to Me ( kinda sunshine), ok the chance is here. This is what I feel now.

Wave (v) completes right at the historical low and while I'm typing the price moved below the lows, may be it will retrace back if elliots are to work. So, look for patterns in lower timeframes (15mins) and bullish reversal signals around the GBPUSD             low zone and plan your trade carefully. Be really careful while trading bcos it can breakdown or come up along with corrective waves beginning, if later happens, yea that will be awesome...

We have equal amount of chances to be Right or to get wrong !
Important Note : Don't expect immediate reversal or Entries based on small bullish candles in ( 1min,5min,15min) is highly risky, so better avoid that kind of entry's. Wait for proper pattern setup (15mins) or clear bullish reversal on minimum hourly before getting in. No hurry's , capital protection is our Primary Aim !
Comment: Perfect Doji (hourly) indicates indecision, lets wait n watch what happens...
Comment:
snapshot
I gave up my position... Couldn't take it anymore. Still haven't learnt it... -40%.. stupid me.
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InsiderB PRO KoalaBear
Ah man ! haven't you closed position last week itself ? I closed my Gu last week as it stressed me out for 5 straight days n hit stops !
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KoalaBear InsiderB
No.. unfortunately not. I'm still learning it the hard way. Sort of martingale way.. still.. Yes, it's stupid. All because of lack of patience, and the will to succeed soon. Too bad.. Also too bad for you.. And yes, I also know that martingale is not the right way if the market continues in the wrong direction for 2 weeks straight, and you should cut your losses earlier. Long way to go.
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InsiderB PRO KoalaBear
I feel sad about -40% bro...The thing is you know what you are upto & you are aware of the things which is right & wrong, still you chose to be on wrong side ? Thats bad bro,change that habit. But if you put that knowledge to work with discipline trades you can cut your loss earlier. When some one says -40% gone, even experienced guys feel emotional. Don't lose all your chips, Bro. Please take it as my suggestion.
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KoalaBear InsiderB
Thanks for your support!
+1 Reply
InsiderB PRO KoalaBear
Anytime !
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GBP seems weak, not sure if it will put up a fight at that bottom
+1 Reply
InsiderB PRO flashsolver
Its just potential trade setup I shared, I agree with your point. Even now, I don't have any position in GBPUSD bcos there is no bullish sign at all.
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flashsolver InsiderB
yeah seems like a free fall but am still watching it
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InsiderB PRO flashsolver
The sad part, I don't have short setups according to my rules, I'm forced to watch !
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flashsolver InsiderB
I didn't short it either, i had a long and got stopped out
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InsiderB PRO flashsolver
Same closed my positions in negative, last week.
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GBP will not rally much this side of Article 50 which is end of March...its now a question of how low can it go...I will be looking for short opportunities on any pullbacks...
+1 Reply
InsiderB PRO Trendhopper
Yeah, I too agree with your point. As long as you follow your rules for trade, Good Plan dude.All the best..
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Sorry bro, GBPUSD might go all the way down to 1.16..
+1 Reply
InsiderB PRO ntt1411983
Don't be sorry bro, I don't have any position now. Its just potential trade setup I shared , lets see what happens in the zone based on that I will initiate trade. So let;s wait n watch...
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ntt1411983 InsiderB
Up, it reached 1.18... unbelievable...
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Interesting, Very nice my friend.!!!!!!!
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