Akil_Stokes

GBPUSD: Trend & Counter Trend Opportunities

FX:GBPUSD   British Pound/U.S. Dollar
I have a handful of trades on my radar today but I wanted to concentrate on the GBPUSD             this morning because of the multiple opportunities. The main trade that I’m looking for is the Bearish trend continuation setup. This market has clearly broken structure to the downside and if we get relief we have an excellent structure level to predict where our next pullback will come to.
We’ve also just come into a minor support level which may offer counter trend traders a buying opportunity. This will be something that I dig into during my live room on a smaller timeframe (waiting for confirmation ofcourse), but with the RSI buried, minor structure and a little Fibonacci ratio confluence, my eyes are certainly looking for a chance to buy the GBPUSD             as the bears become exhausted.
We had a good day in the Syndicate yesterday. I went 1 for 2 and I’m pretty sure Jason went 2 for 2 on his NZDUSD             and GBPJPY             shorts. Also on my radar today is the GBPAUD             , EURJPY             (already long), GBPJPY             (already long), EURUAD and AUDCAD            

Akil Stokes
Chief Currency Analyst
http://www.TradeEmpowered.com

Akil@Tradeempowered.com /@AkilStokesRTM /

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snapshot


What do you think, I thought the bears were in play and we may catch an early breakout so i placed orders for both the scenarios, its payed of!
Reply
As long as you followed your plan I think it was a good trade. I don't see any reasons for the buy orders but that's just me
Reply
neilshahh Akil_Stokes
Hi, there arent any buy orders, they are all sell orders. 1 breakout, and 1 on the trendline :). Thanks for the feedback
+1 Reply
Ahh I see, sorry I must have misunderstood your post. Good stuff then!!
Reply
GBP/USD break out 200 EMA trend line also break out resistance break out if back to 1.5550 I think sell
Reply
Great analysis. I've bagged +68 pips so far. I'm waiting for the same pull back before jumping in to ride the trend down.
Reply
Akil_Stokes PRO PabloSantander
Nice! Was that 68 of of yesterday's pattern or a different kind of short?
Reply
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