Technician
Short

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

FX:GBPUSD   British Pound/U.S. Dollar
5914 51 104
Update: Stopped out
Balance = 28 927 - 630 = $28 297
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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
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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)

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Wish me luck and best of luck for everyone.

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Technician
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Thumbs up!
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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
Dude, bad comments? I am a fan of Technician, that is called a light hearted positive joke towards a friend

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ClearEdgeFX HamzaLeith
I don't think he was referring to you but the trolls in general who have been polluting the Technician's channel.
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HamzaLeith ClearEdgeFX
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!
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LucyW mac_abra
Well said.
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I spotted this one too earlier on today. Certainly worth taking.
GBPUSD - SHORT TERM SELLING OPPORTUNITY
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here is more alignment with your idea from other technical analysis tools.
snapshot
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Very nice as usual
+1 Reply
Thanks, Technician! Looks good and promising.
Good luck to you and others!
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Thanks Mates.
+4 Reply
Thanks, good luck.
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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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Lets hope so :).
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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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Its a very good short Tech, good luck mate, forget about negative folks, keep doing what you do, Good going mate.
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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
All the best mate. Same idea but trading off daily pin.
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Very nice, saw that pin bar last night too. But im looking to enter long near your TP1.
All the best tech.
+3 Reply
Yeah! Everyone is looking for this level! Thank Tech!
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Nice trade settup!
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Nice long opportunity present for the savvy
snapshot
+1 Reply
NickCoulby PRO NickCoulby
Boom! Risk free now, great long
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Good Luck. You have an D1 bearish Pinbar also on your Side :-)
snapshot
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Yea, a retrace is what makes the buy opportunity :D
+1 Reply
P_Parker NickCoulby
Then Good Luck to you, too :-)
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thanks technician for this post
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nice setup, but i prefer to wait to short at 1.5700, key resistance and fibo level around this price.
+2 Reply
nice set up!
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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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that is a 200 sma not 50sma.
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@ 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
is this trade still available?
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Sup technician, what is your fundamental view on this pair?
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SL Hit
+2 Reply
kmk.msp FSCM87
mine SL hit too but reentered @ 1.56, see bearish pin bar in 4 hr TF
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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
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it dindt hit the sl yet
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kmk.msp Tijmen_K
may be when news come inrease in spread result in ask line to hit SL
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Tijmen_K kmk.msp
maybe
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GREAT TRADE!
-5 Reply
VRShaiju masumhussain
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
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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just wonder if trading before news is a good strategy, any experience?
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el_g storm7_fx
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.
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waylo storm7_fx
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.
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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 ,,,
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kmk.msp Sniper_Trading
only news from hawkish BOE has change the scenario.
+2 Reply
It was a good trade but sometimes it happen. Regards
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Sir, where are you
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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
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