EverythingForex
Short

TRADE: GBPUSD: Sell@1.53200 Completed Bat + wave count

FX:GBPUSD   British Pound/U.S. Dollar
In following my overall scenario regarding this pair and following on the heels of the last failed trade I had on this pair (see Related Ideas section for both links), I am taking another SHORT trade on this pair here. The last failed trade turned out to be a trade of bad timing. I am still seeing that prices are headed down here but what I had failed to see was that my wave count was wrong for what I thought was supposed to happen.

Hopefully, with my updated wave count, I have corrected that mistake and now have the correct count. So I am taking another host at going SHORT for that butterfly completion as I ma expecting that prices will head down in the next few weeks to retest that MAJOR low set back in April (see my recent QUICK ANALYSIS on this pair in the Related Ideas section).

I have also posted TP's along the way. As prices reach each TP, I will evaluate whether to take any profits and if I will just let the trade run. My stops for this trade will be above the X point of the completed bat (yellow).

*DISCLAIMER:
Please keep in mind that I am not giving any trading signals or trade calls here. Only providing my own trade thoughts for your benefit and insight as to my trading technique and style. Please don't ask if you should or should not take the trade or ask for stop loss and take profit levels. Any SL or TP given on my trades are my own I have used for my trade and are not recommendations for you to use. If you are not sure, then you do not have a trading plan for yourself in place. I suggest you make one before you continue to do any trading!

If you like my posts and find them helpful, please take a second to hit that LIKE button and follow me so I will know my posts are useful to you. Doing so will encourage me to post more! As always, all constructive comments are welcome. Agree or disagree.
BIG NEWS! Want a FULL WEEK of FREE ACCESS to my member's charts & analysis? If you want it, PM me! Also, for all who PM me, you will be entered to win a FREE MONTH'S Subscription! PM me for details!
mrdspa
a year ago
Interesting level... hopefully we could bag decent amount of pips with this trade. :)
Reply
bride85 PRO
a year ago
just wondering do you worry about tomorrow's rate decision could take out your SL if the tone is more towards hawkish side...
I lost the AUDUSD just right around their rate decision which i think u did too...thanksss
Reply
FXROB
a year ago
snapshot

Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener 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 Billing Sign Out