GBPUSD: After hitting the monthly downtrend target, trend is up
GBPUSD has hit the monthly downtrend target, and formed an uptrend setup in the 3 day chart.
If not in, there're a variety of ways of joining this trend, via either some kind of options on currency ETFs, or going long GBPUSD with a wide stop loss (ideally on a retracement, but might not happen for a while) or any GBP cross with a suitable setup (I'm in GBPAUD currently, since it offered a very clear entry at 1.852, currently at break even).
Use GBPUSD as your map for trading other GBP crosses, you can long all of them (maybe except Yen pairs for now) until GBPUSD hits the mode at 1.53, then it can either turn back down, or break it and rally to at least 1.68.
Monitor monthly CCI, once it gets overbought, we should book some profits from our GBP longs.
I'll update with new entries if we get any, for now, stand aside if not in some gbp long.
If not in, go long GBPCAD now, see my other publication, use a 1 or 3 daily ATR stop loss. 447 pips for 3 atr.
Long term position.
If interested in my trading signals, or in personal tuition, contact me privately. I'm offering a considerable discount on a packaged course which includes access to my private trading signals list for a year.
Cheers,
Ivan Labrie.
If not in, there're a variety of ways of joining this trend, via either some kind of options on currency ETFs, or going long GBPUSD with a wide stop loss (ideally on a retracement, but might not happen for a while) or any GBP cross with a suitable setup (I'm in GBPAUD currently, since it offered a very clear entry at 1.852, currently at break even).
Use GBPUSD as your map for trading other GBP crosses, you can long all of them (maybe except Yen pairs for now) until GBPUSD hits the mode at 1.53, then it can either turn back down, or break it and rally to at least 1.68.
Monitor monthly CCI, once it gets overbought, we should book some profits from our GBP longs.
I'll update with new entries if we get any, for now, stand aside if not in some gbp long.
If not in, go long GBPCAD now, see my other publication, use a 1 or 3 daily ATR stop loss. 447 pips for 3 atr.
Long term position.
If interested in my trading signals, or in personal tuition, contact me privately. I'm offering a considerable discount on a packaged course which includes access to my private trading signals list for a year.
Cheers,
Ivan Labrie.
Comment:
Join my live stream today. I'll do a broad market coverage and discuss a few setups. Starting at 7pm, GMT-3: www.youtube.com/watch?v=dFRgg2Ww...
Comment:
Look at the light blue line...that level HAD to be conquered by bulls. It's acting as resistance, so you can short GBPUSD safely now. At least back to the support below. Stops above today's high are ok.
Comment:
Close GBP longs...at least 50-75% and move stops to entry price.
Trade active:
You can long GBPNZD, GBPCAD, GBPCHF, GBPJPY, GBPAUD, GBPSGD safely with a 3 atr daily stop and half risk each.
Try to at least go long GBPUSD at market, stop under 1.4375.
Try to at least go long GBPUSD at market, stop under 1.4375.
Comment:
GBPUSD long stopped, rest working ok.
Comment:
Reentered gbpusd longs yesterday at 1.4366, stop at 1.4297.
The other GBP longs are working nicely overall.
Leave feedback if you're following the trades I post. Cheers.
The other GBP longs are working nicely overall.
Leave feedback if you're following the trades I post. Cheers.
