[GBPUSD, 2/12/2018] Continue to sell at around 1.27800 Short

British Pound/U.S. DollarFXCM

Description

⋅ Dec 2, 2018 12:48 PM

Wait for the pullback and open sell at around 1.27800 as long as the resistance holds.

Do not expect any long position to make good profit because the downward trend is still very strong, fundamentally and technically.

Comment

⋅ Dec 3, 2018 2:07 AM

Open sell at 1.27800-1.27900

Trade active

⋅ Dec 3, 2018 6:15 AM

Trade activated at 1.27800

Comment

⋅ Dec 3, 2018 10:45 AM

Opened a new short position at 1.28200, TP 1.27380. Target reached. Old entry is still running.

Trade closed: target reached

⋅ Dec 3, 2018 10:55 AM

Comments

rameezcfa

⋅ Dec 2, 2018 5:19 PM

Well any thoughts on EurGbp ??

zuoertai

⋅ Dec 2, 2018 9:42 PM

@rameezcfa, I haven't looked into this pair yet xD

Erland

⋅ Dec 2, 2018 1:29 PM

Totally agree. Even if resistance breaks - I would open another sell around 1.285. It still targets a break of support 1.27 and a move below.

zuoertai

⋅ Dec 2, 2018 1:32 PM

@Erland, I'm not entirely sure what happens next if the downward trend line is broken. However I personally believe it's unlikely. let's see :)

Erland

⋅ Dec 2, 2018 1:34 PM

@zuoertai, I refer to a fake break where it rises on some fake or misleading news to pull more buyers into a trap. If H4 clearly closes above the downtrend and keeps MA under itself - i would wait on the sidelines then.

Erland

⋅ Dec 3, 2018 7:59 AM

There seems to be a Cypher with a sell between now and 1.2836 on H1 so my assumption to continue selling up until 1.285 still stands.