Technician
Short

(J) Trade 17 : Short term Bearish Setup #forex

FX:GBPUSD   British Pound/U.S. Dollar
5902 51 104
Update: Stopped out
Balance = 28 927 - 630 = $28 297
===========================================================================

Trade 17: Pending Short GBPUSD             @1.5530
Trade Status: Pending
S.L @ 1.5635
T1 1.5410
T2 1.5210

Balance = $28 927 Position size = 0.6 lot ~ 2% risk of capital
===========================================================================
Reasoning
  • 50-days SMA and Short term trend line could imply short term downside pressures
  • Pin Bar
  • Short term overbought Stochastic
  • Short term trend is down (lower lows and lower highs)

Don't forget to click the Thumbs Up
Wish me luck and best of luck for everyone.

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My best regards
Technician
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HamzaLeith
2 years ago
Thumbs up!
Reply
mac_abra
2 years ago
Don´t paid attention to bad comments.
Please keep posting. I am sure that at the overall we will prevail.

+4 Reply
HamzaLeith mac_abra
2 years ago
Dude, bad comments? I am a fan of Technician, that is called a light hearted positive joke towards a friend

Reply
ClearEdgeFX PRO HamzaLeith
2 years ago
I don't think he was referring to you but the trolls in general who have been polluting the Technician's channel.
Reply
HamzaLeith ClearEdgeFX
2 years ago
Yeah, sorry mac_abra. But you are right, best thing to do is to ignore these haters. Let them be an added value to this community like Technician is before uttering childish meaningless destructive feedback. Keep up Technician! Love your idea's!
Reply
LucyW mac_abra
2 years ago
Well said.
Reply
ClearEdgeFX PRO
2 years ago
I spotted this one too earlier on today. Certainly worth taking.
GBPUSD - SHORT TERM SELLING OPPORTUNITY
Reply
HamzaLeith
2 years ago
here is more alignment with your idea from other technical analysis tools.
snapshot
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Akil_Stokes TOP
2 years ago
Very nice as usual
+1 Reply
janisroze
2 years ago
Thanks, Technician! Looks good and promising.
Good luck to you and others!
Reply
Technician TOP
2 years ago
Thanks Mates.
+4 Reply
almanshow
2 years ago
Thanks, good luck.
Reply
Olu
2 years ago
Like this idea. Calculated the 50% (midpoint) of the inverse candle on the daily chart and came to the same entry area as you. Price might not retrace that much though
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Technician TOP Olu
2 years ago
Lets hope so :).
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FutureMeDead
2 years ago
I like the 1st target, not so much the second target. The rise from July 8 low resembles a very nice impulse wave in the position of wave a. Thanks for posting.
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GcNaif MOD
2 years ago
Its a very good short Tech, good luck mate, forget about negative folks, keep doing what you do, Good going mate.
Reply
mpenaloza PRO
2 years ago
i think that 1.552 its a better level, i don't think the pullback is going to take the pending short. the index is very bullish.
+1 Reply
Casey_Yeo
2 years ago
All the best mate. Same idea but trading off daily pin.
Reply
Very nice, saw that pin bar last night too. But im looking to enter long near your TP1.
All the best tech.
+3 Reply
URIFX
2 years ago
Yeah! Everyone is looking for this level! Thank Tech!
Reply
Tijmen_K
2 years ago
Nice trade settup!
Reply
NickCoulby PRO
2 years ago
Nice long opportunity present for the savvy
snapshot
+1 Reply
NickCoulby PRO NickCoulby
2 years ago
Boom! Risk free now, great long
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P_Parker
2 years ago
Good Luck. You have an D1 bearish Pinbar also on your Side :-)
snapshot
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NickCoulby PRO P_Parker
2 years ago
Yea, a retrace is what makes the buy opportunity :D
+1 Reply
P_Parker NickCoulby
2 years ago
Then Good Luck to you, too :-)
Reply
thanks technician for this post
Reply
Kenyanpiper
2 years ago
nice setup, but i prefer to wait to short at 1.5700, key resistance and fibo level around this price.
+2 Reply
marcus123
2 years ago
nice set up!
Reply
DavidBelleFX
2 years ago
Great chart. I feel the fundamentals are in sync with your tech analysis. Considering the USD is considered a safe haven for the moment, I feel we could be seeing ~1.515 as a possible point of note.
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Thorm
2 years ago
that is a 200 sma not 50sma.
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KlejdiCuni Thorm
2 years ago
@ Thorm. No it's a 50 SMA. 24 hour one day / H4 = 6 parts per day. We have a SMA(300,Close) so 300 / 6 = 50 day MA
+1 Reply
cipri.blaga
2 years ago
is this trade still available?
Reply
Gweedy
2 years ago
Sup technician, what is your fundamental view on this pair?
Reply
FSCM87
2 years ago
SL Hit
+2 Reply
kmk.msp FSCM87
2 years ago
mine SL hit too but reentered @ 1.56, see bearish pin bar in 4 hr TF
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Shukz
2 years ago
Hi Technian, im slowly learning ur analysis which is very informative like this one. it helps to understand why such entry was/will be made with reasons that u gave. the price almost hit ur SL...this analysis still valid? just want to clarify. thank u
Reply
Tijmen_K Shukz
2 years ago
it dindt hit the sl yet
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kmk.msp Tijmen_K
2 years ago
may be when news come inrease in spread result in ask line to hit SL
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Tijmen_K kmk.msp
2 years ago
maybe
Reply
masumhussain
2 years ago
GREAT TRADE!
-5 Reply
VRShaiju masumhussain
2 years ago
Please post some sensible answers. When you are not using SL, the loss can be nailed your account with a blink. If you are a trader you won't laugh at failure. There is nothing wrong with this trade setup. It is really unfortunate that the market moved to opposite direction. Here his SL saved more Losses. accept it. or Showcase a trade setup with 30k account. Managing 30K is not is as $300 nuts. Even If he got 50 right and 50 Loss in his 100 trade-journey, at the END HE IS PROFITABLE. May be 100%+ Count it.
+3 Reply
Tijmen_K
2 years ago
the market is not with us. it is an excellent trade settup! sometimes it happens i gues ;) no problem it isnt on your analyses!
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storm7_fx
2 years ago
just wonder if trading before news is a good strategy, any experience?
Reply
el_g storm7_fx
2 years ago
It is nearly impossible to avoid news that will affect trades. Opening a trade right before a major news event is not recommended, but at some point an open trade will run into a news event.
Reply
waylo storm7_fx
2 years ago
I think news are already in the price before they are published at some extent. The price acts differently before major news. It gives some signals and it is possible to predict the movement of the market when news are published. Just like in any other situation though. Unexpected news like this one with gbp dont happen that often. And you always have sl's to cover your back when they occur.
Reply
Sniper_Trading
2 years ago
How Markets breaks your Perfect setups , this trade is very good Example ... Everything was perfect , Market was going down in H4 , MA also ahead , but see how markets trigger pending orders and direct SL ... Anyway , Good luck for Future trades ,,,
Reply
kmk.msp Sniper_Trading
2 years ago
only news from hawkish BOE has change the scenario.
+2 Reply
el_trader
2 years ago
It was a good trade but sometimes it happen. Regards
Reply
kmk.msp
2 years ago
Sir, where are you
Reply
CoolCreekCTA
2 years ago
Today's doji closed on the mid Bollinger Band. I like this trade at current levels: sell @ 156.30/ SL 156.82/ target 154.55
http://gyazo.com/6780e0b7232fcbfbde07e633bda42bda
Reply
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