Trendhopper
Short

GBPUSD - SIMPLE CHANNEL TRADE

FX:GBPUSD   British Pound/U.S. Dollar
170 0 10
I will short on retest of upper trendline ...my target will be bottom trendline , if price breaks up above trendline I will be a buyer to 1.35 area....

Many of the GBP pairings appear to have already reversed but there are a few more we can pick up on Monday/Tues
Comment:
snapshot


snapshot


Maybe not simple!!!

One thing for sure is we get a correction...

I will enter 2 short trades , I will take profit at 0.38 fib .131602...

then let the other position run...hopefully to bottom of channel....then buy to complete a butterfly pattern
Trade active
Trade closed manually: took small profit...will reenter short at 1.33368
Comment: correction 1.33438
Comment:
snapshot


Im still with this idea. the breakout of channel is false and just appears as a spike on the daily chart..GBP's rally is wearing out, already reversing VS AUD which is a trade that is in profit, I will attempt another short when I see a right shoulder to balance the left side....
Comment: Shorted at 1.335

I will watch price action on this one....to take profit
Comment:
snapshot


Potential Bullish Cypher so I will take profit there as dollar index looking weak, 8:1 risk reward as tight SL , must break the support trendline first , if not then its a break even trade,
Trade closed manually: made profit...closed trade as looking bullish support line likely to try a double top and could be a bullish breakout....
Comment: I will buy on retest of trendline...This has one more leg up to make a head pattern around 1.34668 ...1.35...
Comment:
snapshot
Order cancelled:
snapshot



cancelled this trade ....DXY may have a bullish butterfly.....expecting possible negative oil news which will fulfil the butterfly pattern and strengthen dollar...weaken GBPUSD further...expecting dollar lift to be shortlived if if fulfils this pattern....then I will buy GBPUSd until DXY retrives to its trendline (94.50)
Comment:
snapshot


Nioe opportunity for GBPUSD lies ahead

Either long on support channel and completion of this bat pattern...or short pullback...or both !!!
Ideas Scripts Chart
United States
United Kingdom
India
España
France
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out