IvanLabrie
Short

GBPUSD: Quarterly downtrend

FX:GBPUSD   British Pound/U.S. Dollar
This is a chart mostly meant for analysis and forecasting, but you could also look to trade it using ETF options, for example selling calls/puts, or if trading the monthly, you could go with a 374 or 400 pip stop.
The risk vs reward is really high, even if you do use this stop loss size.

It's not meant for anyone, mostly an investor or longer term trader would take it at least.
In my opinion, it's likely to get very good short trades in lower timeframes, whenever the 4h, daily or weekly would align with this forecast's direction. A compass of sorts.

For more information and insights into managing this position, scaling in, and understanding the logic behind the technical setups contact me via pm. I'm currently hosting a skype group, where I share trade setups and also provide traders with training, as well as 2 private webinars per week, and also giving tutoring via skype calls, on a one on one basis.

Cheers,

Ivan Labrie
Time at Mode FX
Comment: We can obtain a weekly entry into this trend after the close.

snapshot
Comment:
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Trade active:
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Comment: On track.
Comment: En route.
Comment: No change to forecast.
Comment: Good chance to add to shorts, stops at 1.4733
Comment: No doubt that we will hit targets for now...
Comment: What a visionary huh?
going down..!
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It's a very strong downtrend, quarterly scale.
Unless gbp manages to climb above the blue line, it's heading down.
+1 Reply
In this w/ you, Coach. Hopefully we make loads of cash for Christmas ^_|^
GBPUSD: I
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well done !
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Great call on this Ivan!!! I've been watching the Pound as a great proxy to short GbpJpy.
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IvanLabrie PRO coondawg71
Thanks.
Rarely do things trend in FX, and rarely do they confirm a quarterly trend using time at mode.
It's a good guide, just sell any rally in gbp crosses. :)

Cheers!
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coondawg71 PRO IvanLabrie
yeah, Brexit theme seems to be taking a firmer line south. Pound could drop quite a lot.
+1 Reply
Beautiful trade setup !!
+1 Reply
Thanks, the stop is really wide for a monthly trade, but it's a long term position.
The idea is to serve as a guide for shorter term trades too.
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