vbadali
Short

The cleanest setup in forex - GBPUSD BEAR FLAG

FX:GBPUSD   British Pound/U.S. Dollar
71 0 5
When I stumbled upon this weekly chart I almost thought it was too good to be true. I've personally never seen such a clear weekly consolidation pattern and that may leave it open to manipulation and failure but I simply cannot ignore the potential.
1. We're consolidating below the 2009 low @1.35 and after the strong BREXIT induced drop.
2. After such a strong one-sided move I'm inclined to trade with a Short Bias looking for a breakdown.
3. A clean move below 1.29 should really start the down move and TBH I don't know what the targets are because we're all new all time lows so I'd look to hit a clean psychological number like 1.25
In conclusion, set a sell stop at 1.29. Otherwise, no play
Trade active: My sell stop was triggered on the break of 1.29 holding now until atleast 1.25.
Retails traders getting more long this pair - Look out below!
Trade closed manually: Ridiculous trading in terms of profit potential 1.29-1.20. I unfortunately bailed before the flash crash but still made out with 300 pips !
Keep trading the long term setups!
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
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