Ichimoku_Trader
Short

We'll catch it going down .. It's safer

FX:GBPUSD   British Pound/U.S. Dollar
851 10 67
I have revised my weekly position on the GBPUSD             .

The current trend direction is down so I want us to be aligned with it. That is safer.

So, once we enter into the sell zone, we will start looking for sell signals. Don't rush. I'll tell you when I personally enter but you can choose to enter on your own if you see a signal you like.

For the trend direction to change, we would have to break the reversal point. It's far. So we have to choose our entry point wisely.

So stage 1 would be for us to break the critical level up and that would start a correction on a lower timeframe (that might happen after we complete a breaking of the lows).

The safest signal for our entry would be a break of the market structure to the downside. I'll tell when I know what that means ;)

Please like, follow to get updates and comment
Good Luck
Comment: this trade is progressing very well

If you want, you can enter counter-trend after a 50% pullback or more targeting 100% of the first leg up and until we reach our target zone where we can think about our planned entry
Comment: We have reached our selling area

The safest strategy from here would be to enter on a break below 1.41040
Earlier signal can be taken but I would not advise it

Good luck
Comment: This chart is no longer active. Please check the newest chart
Keep us posted when the reversal is about to happen. I am still confused withe the right signal. Which time frame is should look into for early detection of a reversal? Appreciate your help on this.
Reply
the signal is simple

when u see the orange line turn angle down after we enter the sell zone .. that is the signa;l
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Jon88 Ichimoku_Trader
Thank you for your prompt reply. I really appreciate it. I am really impressed how ichi works but I still have a long way to learn and use it properly.
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good luck
Reply
bilk29 Ichimoku_Trader
thank you
Reply
Hello Bro. i took the short at 1.428..shall i hold on to it or GU will go up still?
Reply
The market structure now supports an upmove So I think we are still going up.
But it's you decision

Good luck
Reply
so your stop would be above 1.4459? If so, would you stop and reverse at that point?
Reply
No

We'll set the stop after our entry and according to the market structure at that time

Reply
Ichimoku_Trader Ichimoku_Trader
Regarding the stop and reverse strategy, it applies only in small size ranges due to its high cost. I would apply S&R if the market is moving in a specific direction but not impulsively. That would imply that the other way should be impulsive and we want to catch that unless the first direction proves to be impulsive

So its kind of .. I think I'm right but I'll let the market decide (which is the essence of our trend trading strategy)
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