IvanLabrie
Short

GBPUSD: Time at mode uptrend might give us a great short soon

FX:GBPUSD   British Pound/U.S. Dollar
3 months ago
GBPUSD             has an interesting chart here, with very clear resistance levels and a stop loss level for short trades. We will be looking to short the top of the current uptrend, to rejoin the long term decline in the Pound.
I think the uptrend is doomed from the get go, being a pullback in a downtrend, so, I will look to fade the rally when safe.

The chart shows a potential signal that could take price to the vicinity of 1.2830, but, there is a massive supply level at 1.2767 that could make the uptrend fail. Look for shorts above 1.2767 ideally, you can take a long term position and spread the selling over multiple days, using the stop on chart. If the analysis is correct, we'll get more confirmation for a precise technical short entry soon, for now, wait for updates here, and watch it. Going long isn't reccomended, although this will probably rally while EURUSD             retraces.

Cheers,

Ivan Labrie.
2 months ago
Comment: Almost confirming the uptrend signal.
2 months ago
Comment: The Pound's stuck here...I'm watching from the sidelines.
2 months ago
Comment: [quote="IvanLabrie"]GBPUSD moving up
https://s3.amazonaws.com/tradingview/snapshots/n/NaMxSkhC.png[/quote]
2 months ago
Comment: (from the KHL chatroom)
snapshot
2 months ago
Comment: Approaching the short zone.
2 months ago
Comment: You can start shorting here, and until FOMC. Spread your entries over a few days, to reduce risk.
2 months ago
Comment: Seems like we caught the top. Adding a bit more each day at the close.
2 months ago
Comment: Pairs like GBPAUD are an optimal sell too.
2 months ago
Comment: Acting well.
2 months ago
Trade closed manually: Better wait to reenter, exit now.
2 months ago
Trade active: I'm reshorting here.
2 months ago
Comment: Doubled the trade at 1.2504 and trailed stops to 1.2541, risk is $0, nada. Avg. entry: 1.2544. Would result in a 3 pip profit if stopped, but I think it'll keep going down.
2 months ago
Comment: Great progress, hold!
2 months ago
Comment: It should hit 1.2160-1.2170 before seeing any reaction.
If you're interested in joining my trading newsletter or private lessons, message me. I trade Forex, Equities and Commodities. Contact: skype @ ivanlabrie, PM here or QQ (2954487803). KHL telegram group: https://t.me/joinchat/AAAAAAqHRWYvrLlfpF0StA
RobbyWestHouston
2 months ago
I agree! I have already started selling GBPJPY and looking at GBPUSD now. Might be next week before it starts moving down. I am going to avg my way into the turn on GBP pairs.
+1 Reply
I_see_BTC PRO
2 months ago
You're right about GBPAUD. Beautiful sell opportunity.
snapshot
Reply
IvanLabrie PRO I_see_BTC
2 months ago
@I_see_BTC, yes, I think it resumes the longer term downtrend now.
Thanks for the comments.
Reply
RJHumphries PRO IvanLabrie
2 months ago
@IvanLabrie, which might explain the rally in the Ftse100....
Reply
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