GBPUSD: Part 2 The 2618

FX:GBPUSD   British Pound/U.S. Dollar
This morning I posted a trade idea titled "3rd Times The Charm" In this idea I mentioned that i had previously taken 2 losers on this particular currency pair the day before and was ready to reload once again for another shot at getting short. Well that trade payed off as our double bottom/ Bat pattern (LTF) rolled over without much pain this morning and then even more so after this afternoons fundamental action.

For those of you who took the trade congrats. For those who didn't the next opportunity to get short will come in the form of a 2618 setup. Here's a link to a FREE training that we did on the 2618 if you want to learn the strategy. https://www.youtube.com/watch?v=AIvAwGZfSp8 But essentially what we're looking for is the break and close below the initial double bottom (signifying a rotation in trend) followed by an outside return into the 61.8 or structure. typically targets are taken at the retest of the latest impulse leg and some sort of extension whether it be the 1.272, 1.618, ac=cb or just future structure.
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It,s going to make a reversal near the level 1,5330 - 1,5305 .

Afther the las economic reports, of US. LONG REVERSAL

Jan 30, 09:45 Chicago Purchasing Managers' Index Medium Impact 58.30 57.50

ALERT THIS. --- Jan 30, 10:00 Reuters/Michigan Consumer Sentiment Index High Impact 93.60 98.20

Hi Aki, I agreed with your trade set up, and for my analysis just a little bit different from your trade set up.
However, I believe that simple trade set up still make money,
Thanks for your share.
+1 Reply
Its going to level fibo 161.8 @ 1,5077 Hit the friday,s...
Hey Akil, I wasn't able to take the previous short. But looking forward to trade this setup. Thanks for sharing your valuable analysis as always. I have learned a lot from your analysis, not only from this trade setup but previous ones as well. I hope you continue with your analysis. Thanks once again and Good luck trading!!
+3 Reply
Akil_Stokes PRO moneymaking
Thanks, I'n unable to post a lot on here but I'd like to be able to share at least one potential set up a week.
+1 Reply
moneymaking Akil_Stokes
Even just one potential setup per week, gives us the opportunity to learn and increase our knowledge, which I personally believe is very valuable. I always get to learn something new for your trade setups. Thank you once again for sharing with us!!
+1 Reply
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