GBPUSD - Take profit on shorts

FX:GBPUSD   British Pound / U.S. Dollar
114 2 0
The strategic direction remains bearish , but there are multiple signals which indicates we may see some pull back from these levels.

Daily: ADX topish, turning down a bit, while DMI lines started to converge. MACD and Slow Stoch turning bullish together. These indicators gove a good chance for a pull back, maybe to ard             1,6750-1,6800.

4 Hrs: Weak Tenkan/Kijun bullish cross. Some small double bottom followed by consolidation. This will likely continue for some more time, counter trend can start only with a break above 1,6650.
Daily MACD and Slow Stoch both gave clear buy signal. Possible daily tgt for pull back is ard 1,6750. Idea: watch 4 Hrs chart for entry signals for a swing long trade. DMI-ADX initially looks supportive. rRade size should not be more than 1 unit based on your risk management. Important to see higher highs. Strict stop loss at 1,6525 the lowest!
Kumowizard Kumowizard
To make it clear, the signal indication now is ONLY close or reduce shorts in GBPUSD, not yet a firm signal for the counter long!
Don't forget: the major trend is bearish! The better risk reward trade will be a sell at Daily Support levels. That's why we always trade swings with smaller units and tighter stops.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out