FX:GBPUSD   British Pound / U.S. Dollar
I will short on retest of upper 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

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
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 take profit
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...
Order cancelled:

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)
Nioe opportunity for GBPUSD lies ahead

Either long on support channel and completion of this bat pattern...or short pullback...or both !!!


Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out