GBPUSD: Short now! Short

British Pound/U.S. DollarFXCM

Description

⋅ Aug 10, 2015 6:57 PM

Simple, price at 52 week EMA, if we close under the mode this week, this will start a 16 week downtrend.
We can use an extremely tight stop producing a 27:1 r/r trade if we reach the extreme target.
Good luck!
Ivan.

Comment

⋅ Mar 13, 2016 11:19 PM

Mental reminder: always fade moves against quarterly modes.

Comments

moneymaking

⋅ Aug 10, 2015 7:35 PM

Awesome, I also just shorted couple of minutes ago. Time to wait and see how this plays out. Good luck mate :)

IvanLabrie

⋅ Aug 10, 2015 9:34 PM

16 week downtrend...If not stopped, I'll try to completely forget about it. (checking every day at the close and on Friday's)

moneymaking

⋅ Aug 10, 2015 9:35 PM

Ya, sure will mate thank you for the advice :)

IvanLabrie

⋅ Aug 12, 2015 1:34 AM

Well, we can reenter very soon.

IvanLabrie

⋅ Aug 11, 2015 4:27 PM

Let's cover here and watch it.

CryptoPAMM

⋅ Aug 10, 2015 9:46 PM

I think it will continue rising towards 1.59, I'll stay away for now :) but good luck guys

marcus123

⋅ Aug 10, 2015 9:40 PM

Ambitious. Good luck

Realisto_FX

⋅ Aug 11, 2015 5:37 PM

Sorry Ivan, in this case I have to dissent , I just opened long after bullish engulfing pattern. Just a different view :

IvanLabrie

⋅ Aug 11, 2015 5:38 PM

See comment above.
I shorted, 'now', when I published and caught a bag of pips. :)
Reccomended covering 1 hour ago.