ElieSweid
Short

Another Major Fall For GBPUSD pair

FX:GBPUSD   British Pound / U.S. Dollar
My First Post on this website
Feedback Would be apreciated
My analysis, for the upcoming days;. We Start With The Major Resistance level (1.36-1.35) that stopped GU from Climbing higher.
Second bounce happened 2 days ago after trying to break this major resistance level , similar bounces happened before which led to a big fall. Using the Fib retracement tool help us to see clearly the resistance and support levels that GU is ranging in between for the last 2 months.
Drawing a trend line can also help to clearly see the next move for this pair.
You can also use other tools to make you 100% confident about this trade, Like Bollinger Bands and RSI . which all will lead to the same Call;
Which is SELL GBP/USD             , you can see the Take profit areas defined by the FIB tool, you can place positions along the way as we might see a lot of upper correction waves.
Stop losses are not needed as long as you are placing logical lots, and managing your Balance and risking the right amount.
Goodluck, Thank you
Will Keep you updated.
Comment: Good Entry points for a short position: 1.3425 and 1.3436
Comment: First Take profit can be @1.325
Trade active: The last spike is another small sign indicating a short-term fall.
Trade active: We might see some correction movements soon, taking profit at this poing is good for increasing equity, plenty of good short positions ahead of us, goodluck.
Trade active: Might see Correction Till 1.337
Trade active: Take Profit Levels:
TP1 1.1325
Tp2 1.3060
Tp3 1.2253
Trade active: Short Positions can be added at the current price for a better entry points.
Trade active: Price will maximum reach 1.365, place your SL accordingly
Trade active: Take Profit at 1.3445 if you already shorted around CMP
Comment: Buy stop @1.3545 can be place to secure your balance in case it spiked up ( some news today) but our major call is short, it will rebound no matter what.
Trade active: :) You can take partial profits to increase equity, knowing that we have news in one hour.
Comment: Might bounce back to 1.352 from This price
Trade active: Daily Pivot Broken, Getting rejected by 1.3415 Let's See.
Trade active
Exemplary FIB foot work
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Beware engulfing sticks !*)
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ElieSweid PRO trajkovic
@trajkovic, News..
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