tntsunrise
Short

GBP is good to short the pull back

FX:GBPUSD   British Pound/U.S. Dollar
GBP is good to short the pull back
Reason:
1. 0.618 LEVEL
2. 1.618 EXT
3. Previous Structure
4. RSI over bought
Comment: 1.4650 is the previous neck line.
so i added another short position
Comment:
snapshot
Comment:
snapshot
Comment: all the way come down.
dun be scarred!
Comment:
snapshot

are you still in?
Comment: WATER FALL!
1.4512 NOW
+140 PIPS
Comment:
snapshot

I will use this BAT as a TP point
Comment:
snapshot
Comment:
snapshot

are you still with me? short gbp?
Comment:
snapshot

Retested trend line.
short again
Comment:
snapshot
Comment:
snapshot

two pin bar in 1h
Comment:
snapshot

SL 1.4675 , if price broke that level.
exit .
Trade closed: stop reached: SL 1.4675 HIT exit
Comment: Hey Traders: there will be free webinar tomorrow
this week's webinar time:
thursday, 22:00-23:00, UTC+8,
http://www.yy.com/15565863
see u tomorrow. it is Singapore Time 10PM. NYK: 10AM, LONDON 3PM
Join Projack's Student Group:
http://www.harmonicasia.com/index/course.html
Youtube:
https://www.youtube.com/playlist?list=PLN0GYK-_EO5Z3Xzp6Sk1bmfzckpkJ5NCx
FB: https://www.facebook.com/groups/projacksg/
QQ Group: 609224828
Do you mean short now?
Reply
Appreciate for the idea and explanation Jack !!!
Reply
hi, can we short cable, or have to wait
Reply
Agree, hope it will form a double top, and give me a second chance.
I feel GBP becomes so exaggerate these days
thanks Jack, have a nice trading day.
+1 Reply
Miz RandR
Double top now :)
Reply
SAME TO YOU!
+1 Reply
Interesting but its a tough call with politics and referendum polls in play. It might just stay firm since it has been unmoved by the FOMC minutes yesterday?
+3 Reply
agree with you
Reply
Just Short now
Reply
short now :)
Reply
1.618 would be a nice TP, hopefully reaches your 3rd TP :)
Reply
1.618 ???
Reply
medium news shot it up to 161.8
Reply
Miz Miz
Is this trade still good based on your analysis Jack?
Reply
I put S/L slightly above 1.618 EXT, it just got hit.
Reply
Do we need to wait for the daily closed or the trade is cancelled?
Reply
Miz haikalwafiqhii
I still believe its valid, news pushed it up to 1.618, hopefully goes down from here.
Reply
Miz Miz
or it could also go up to 0.786 fib then drop rather than 0.618
Reply
Jedi haikalwafiqhii
Hi Jack. Would you not say that this pair is due some more upward movement and we ought to be looking to go LONG on pullback towards 1.45600.
Reply
yesterday I long at 1.4414 based on 1h strucure. right now for gbpusd, i will only consider short at high price rather than buy low. as long as gbp doesnt close above 1.4800 is fine
Reply
A Jedi wouldn't need to ask such a question perhaps change your name to "Padawan" as you are still learning.
Reply
Jedi BTCMarket
Forgive me o enlightened one; I was merely exchanging my viewpoint but judging by your comment one is not to have one! Good day to you.
+2 Reply
GBP/USD

Same view Sir. Nice chart and really appreciate your work. Thanks :)
+8 Reply
namavar LeeFuGuo
if price go up, meaning forming 5th wave
Reply
LeeFuGuo namavar
so far level 1.465-1.466 rejected the price perfectly to stop GU continue to move higher ... if daily candle form in this way, chances GU will go down will be higher compared to breaking new high ~ (I trade based on probability, so you can be right also) Good luck :)
Reply
Bat harmonic in the making. Good decision sir.
Reply
SHORT AGAIN IN 1.46512
Reply
Can we enter now and what is the target
Reply
tntsunrise TOP BanClassic
look left , find the support
Reply
where do you put the stop loss here in this situation?
Reply
in dow's theory, where is the level that gbpusd become bullish in the daily chart?
Reply
A few days ago the polls were showing a move toward no exit. If the polls don't change the pound should continue rising. I suspect a pullback will be due to a change in the polls towards an exit. Anyone know when the next poll comes out? .or does it not matter.
Reply
stop loss??
Reply
tntsunrise TOP prince125700
find the level that u think gbpusd is no longer bearish
+1 Reply
Just to improve my analysis skill, why isn't your first target 1.45?
Reply
tntsunrise TOP IAmAgainst
u can choose 1.45, as 1h target
buy what i am looking is Daily
Reply
IAmAgainst tntsunrise
Great, now that I see it it's clear in D1 chart. Thanks!
Reply
blake200 tntsunrise
British pound is up (highest in three weeks) and Gold is down as you can see, so why short on GBP/USD !! i would have loved to watch your webinar.
Reply
why not short gbp. risk/reward so good.
Reply
SHORTED AGAIN!
Reply
I am also short at 1.4642 :)
snapshot
Reply
Shorted thank you. I really enjoyed your webinar by the way, it was so helpful to my trading already today.
Reply
nice!
Reply
yep, target ? 1.41?
Reply
Miz IliyanMihaylov
thats where I am targetting
Reply
tntsunrise TOP IliyanMihaylov
good
Reply
Thanks you Mister Jack !!
Reply
blake200 BorisMisale
British pound is up (highest in three weeks) and Gold is down as you can see, so why short on GBP/USD !! any views
Reply
nothing to do with gold.
Reply
1.41 target
Reply
buy
+1 Reply
somehow it looks well bid the moment that it got a glimpse below 1.4600 only currency that is up on the USD but who knows how quick that might change
Reply
GBPUSD pair made a negative divergence on the RSI on the new high it made earlier. Check 45 min chart on the Pair.
Reply
snapshot

are you still in?
+3 Reply
mchilado tntsunrise
Yes Jack from 1.4588 thanks
Reply
Khagrax tntsunrise
yes, shorted at 1.4654
Reply
Domsn Khagrax
bit risky hm? :-) but looks like it was worth
Reply
there is alwasy risk involved in any trade.
the key is:
do u have the edge to trade and is the risk/reward ratio good to trade
+1 Reply
Miz tntsunrise
Theres always risk to achieving anything worthwhile in life. If there was no risk then everybody would be successful.
+1 Reply
totally agree.
Reply
JesseChan tntsunrise
Shorted at 1.455, alright with it ?
Reply
marcus123 tntsunrise
so true
Reply
Miz tntsunrise
Riding it all the way down :)
Reply
spuspala PRO tntsunrise
Sure Sir, IN like a rock :)
Reply
Yes :) !
+1 Reply
Domsn jurgita83
same :) !
Reply
yep, still in, i drew the same exact chart with the triangle ;)
Reply
Yes. Still in.
Reply
yes for sure . :) i am in .
Reply
yes, sure
Reply
Support on daily 50MA. Hope it is going to be broken soon.
+1 Reply
Yup, still in!
Reply
is monthly pivot good target near 1.44273 ?
Reply
All in TNT. Thanks again.
Reply
you still in Jack ?
Reply
of course!
+1 Reply
Great move!!!!!
Reply
Great work Jack. Thanks for your insight, I'm learning a lot.
Reply
wow thats a long way to go! close to 400 pips?
Reply
Thank you!!!!!!
Reply
Are there any intermadiate TP to watch?
Reply
very nice.
Reply
i thinks this pair is going to 1.4715


before going back
Reply
Renegade7 faisal.altunaiji1
I'm looking for a patriotic pop somewhere down here. I hesitated and haven't taken a position. Letting news influence judgement, its hard not to do.
Reply
Wow! You had good entries there!!! I need to find the place to enter it.
Reply
Nice one Jack. I'm in from 1.4627.
Reply
nice one bro I"m in @1.46490, same take profit.
Reply
Hi Jack, do you think that at the opening tomorrow it will keep falling non stop, or will be a small pullback to 1.454 and then going down again till TP?. Thank you in advanced, great Webinar last day.
+1 Reply
snapshot
+1 Reply
hello man,

I missed the chance of short on this pair.. should I wait for 1.46 or insist for 1.47?
Reply
snapshot
+4 Reply
did u sell? another 80 pips from 1.4550
Reply
roadtogo tntsunrise
my .ucking broker and spreads.. maybe today again ?
Reply
sure
Reply
Another great call Jack. I missed the pullback but I'm still in the original trade.
Reply
that's fine! keep the original one
Reply
target is 1.44055 then 1.4323?
+1 Reply
look left find your target
Reply
yes, short, gbp...nice analysis. thanks!
Reply
yes .. i am still in the sell coast ride
Reply
Still in!
Reply
I missed it. I was not sure if it was another trap or not... Oh, please keep us updated on trades. You are so good in it!
Reply
Still in and looking very good!
Reply
Argh I missed a couple of pips, waiting at 1.45490... didn't get there...
Reply
Lynxfx arianto
Same here :-(
Reply
I missed the retest by 5 pips :-(
Reply
my sell stop not active, only 4 pips below my enter! How provoking!
Reply
Managed to re enter at 1.45276, also caught a nice 50 pips from gbpaud :)
Reply
<are you still with me? short gbp?> Yeah! Great one! Unfortunatelly I missed the retest scale in trade but anyway!
Reply
yes still active by me
Reply
I am still there from 1.45764 and keeping the SL far away. Thanks a lot
Reply
Price retest on 1.4500 now!!!
Reply
Jack, price approaching 1.45500 again, is it still a good level to open position? What is good level to open position now? Where shall we put the SL?
Reply
yeah. of course. sell the high
Reply
arianto tntsunrise
Any suggestion regarding Stop Loss Jack?
Reply
just ask yourself this question. if gbp continue rally, until whcih level you think it is no longer bearish
Reply
arianto tntsunrise
Hmmmm, 1.48000, isnt it too high? Sorry I m a newbie in this?
Reply
Miz arianto
1.46730 is a good level as it was the previous high if you cannot manage such a big sl.
Reply
It seems a head n shoulder forming in H1 chart.
Yeahhh.... Cool....plan a re-entry to follow the wave down.
And again, Thanks to Jack for this wonderful opportunity.
Reply
hello,

where to put SL? please help..i shorted like hell..
Reply
that is some kind of roller coaster ! ;-)
Reply
Hi Jack, a question.. when you add to a previous position like you did (I think) now, do you place the same stop you had from before or do you set individual stop values for each indivitual portion of the overall position?
Reply
Also hidden bearish divergence in 1h.
Reply
testing the 618...
Reply
WOW just shot up!
Reply
still in?
Reply
Miz vava
yes
Reply
I'm having a bad luck with GBP...
Reply
Another 61.8 re-test. Another short opportunity for those who dare. What do you think Jack? It's broken and close above your trendline on the hourly which isn't a good sign.
Reply
arianto Marvin
Hahaha really tempting to make another short on GBPUSD, is it really a good move or bad move physcologicaly, adding to a currently losing position?
Reply
gone from a trade looking good to a trade looking very bad!
Reply
Done, reshorted again, lets wait and see…
Reply
Jack, you mean doing another short or watch price action first?
Reply
Miz arianto
Nice to short now
Reply
agree
Reply
i book some profit at 1.4450 yesterday, so now i can short it again
Reply
Miz tntsunrise
Ahhh its annoying as I was going to book profits there too but didn't :/
Reply
combi tntsunrise
Hi tntsunrise. If we not asking too much can you be so good and share information with us when you enter and when to exit the position. Nothing do not mean that you say you are out in partialy because we did not close the position and now we are posible in trouble. Thanks
Reply
can we sell now from 1.4615 sl 1.4660
Reply
GOOD PLAN
Reply
arianto tntsunrise
so that level of stop loss is ok Jack?
Reply
fine
+1 Reply
Miz tntsunrise
weekly and daily looks very good to short, and looks like it will go to the BAT tp point and below
Reply
exactly!
Reply
GBP is crazy, Jack

What do you think about the target?
Reply
if you short at 1.4615, the first target will be 1.4550, the breakout place
Reply
bunah2 tntsunrise
I have 1.4555, very close to yours. I am getting good. Thanks
Reply
bunah2 tntsunrise
lol
Reply
2 Pinbars and 2 confused dojish bars. The market is confused, i am confused. Where are we heading?
Reply
I've seen enough from the PA to short it again from here. We closed below the 61.8 on the hourly. Look at the 15m chart. 7 exhaustion candles. South we go
Reply
Gbprider Marvin
going to north check the daily & weekly chart , time to buy from the dips..
Reply
not looking great
Reply
Wow, I'm still learning about this pair, it's worse than a weather forecast for me, but with fibb analysis, I think it's OK to handle with some rule of thumb either with Fibb level & retracement & some trade management, thanks Jack.
Reply
Another newbie question Jack, I ve seen you use fibonacci (I only know a little about fibonacci retracement, dont know about other). In this GBPUSD why do you use the endpoints? How to determine valid fibonacci endpoints? Sorry if my question are not clear, or too newbie. I also don't know how to post a chart here to clarify my question.
Reply
it's my personal habit to use end point
Reply
Jack, are you doing a webinar tomorrow morning?
Reply
tntsunrise TOP Trendliner
it will be on thursday, 10 PM SINGAPORE TIME +8 GMT
Reply
Trendliner PRO tntsunrise
What is that NY time?
Reply
tntsunrise TOP Trendliner
u can check on global time zone. should 10 am in the morning.
Reply
Trendliner PRO tntsunrise
Sounds great, looking forward to the webinar...I learned some very useful things last week. Thanks for sharing your knowledge.
Reply
this is annoying me now
Reply
Really close to my stop loss now...
Reply
Gbprider arianto
why are you keep selling when u see bulls ??
Reply
What now?? 1.4656, is shorting still valid or we close the position? Please advise
Reply
BTCMarket harilaos
This is not a trade signalling website you shouldn't be asking questions like this. The charts here on TV should be viewed as educational and not a solicitation to buy or sell anything the fact you seem to be buying and selling based on charts here without knowing what you're doing can cause you significant financial losses with no one to blame but yourself.
Reply
agree. thanks for pointing this out.
Reply
already updated. trade closed
Reply
Trade closed: stop reached. SL 1.4675 HIT exit <<< better luck next time. we cant always win...
Reply
yeah. exit becuase price just make a higher high. although i doubt it a stop loss hunter movement, but rule is rule, exit first, we find opportunity for the next trade
Reply
mlbo tntsunrise
to be honest i placed my stopp @1.470 to be more save against stopphunting (but risking more loss of course). we ll see.
Reply
ok that's good. but your risk distance changes, so you have to set larger tp
Reply
snapshot
dun put at round number.
Reply
I almost blew my account by shorting gbp pairs today and yesterday..
Reply
tntsunrise TOP IAmAgainst
control your risk. dun risk more than 2% for one trade
+1 Reply
IAmAgainst tntsunrise
Yes.. it's hard to do so when you're sure you're taking the right decision. Now to start over..
Reply
tntsunrise TOP IAmAgainst
there is nothing for sure.really. we have to respect the market.
Reply
IAmAgainst tntsunrise
Agree, good luck for us for the next one..
Reply
mlbo tntsunrise
you are right. i risk 5% per trade. 2% would be better for sure but with my accunt size this would no longer justify the time and work. but i try to avoid corelated currency pairs to avoid additional hidden risk per trade.
Reply
yeah. if already trade gppusd, then dun trade gbpjpy and gbpaud or eurgbp
Reply
mlbo tntsunrise
thats what i ment
Reply
ok I reshorted 1.4683, I follow you also shorting the USD to JPY. If you change your mind tell us to adjust our trades, thank you
Reply
Could it be that it's forming a cup with handle..?
Reply
tntsunrise TOP IAmAgainst
well. i dont really see a cup with handle, coz that pattern normally comes after a hudge down trend
Reply
IAmAgainst tntsunrise
Yes, and it's more of a day chart figure rather than hourly but didn't know if it applies when not following a down move.. thanks. I'm not trading this anyway, not untill I see something that shows a clear direction..
Reply
great thx!
Reply
Hahaha my stop loss has been hit, ok maybe next trade will be profitable.
+1 Reply
Looks like it experiencing a rejection above the .786.. a sell stop at 1.467 would be too risky?
Reply
Gbprider IAmAgainst
did u see any reversal candle to short ?trend is bullish now
Reply
IAmAgainst Gbprider
It looked like one when I wrote the comment..
Reply
Hello, Jack. Will you make a new analysis on this pair?
Reply
Ideas Scripts Chart
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