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ProjectSyndicate
Aug 18, 2020 5:54 PM

GBPUSD W1: IHS BULLS / 1 000 pips correction SOON (UPDATED) Short

British Pound/U.S. DollarFXCM

Description

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GBPUSD W1: IHS BULLS / 1 000 pips correction SOON (NEW)
IMPORTANT NOTE: speculative setup. do your own
due dill. use STOP LOSS. don't overleverage.
Tagged as SHORT because I expect 1 000 pips
correction soon once we hit the neckline.



🔸 Summary and potential trade setup
::: GBPUSD weekly chart review
::: almost maxed out now
::: 1000 pips correction will follow
::: marginal upside remains
::: Dollar losses overextended now
::: Inverted H&S setup
::: 3350 neckline of IHS setups
::: reversal possible next few weeks
::: SHORT IT from neckline TP RS
::: strong upside next few months
::: TP BEARS is 2180 SL 100 pips
::: Recommended strategy: SHORT IT
::: big moves in FX next few months
::: good luck traders
🔸 Supply/Demand Zones
::: N/A
::: N/A
🔸 Other noteworthy technicals/fundies
::: TD9/Combo update: N/A
::: Sentiment short-term: BULLS
::: Sentiment outlook mid-term: BEARS/REVERSAL
::: 16 000 lots SHORT / 5500 lots LONG
Comments
Boon2
Nice, here are my targets. GBPUSD H4 Downside Targets. I'm in the short at BE, might be a wild ride.
ProjectSyndicate
CADJPY D1: buy dips / TP bulls +440 pips(NEW)
FXCM
thanks for sharing, agree with your bearish bias, waiting for a short on GBPUSD here:
AZEB1A
Back to 1.275
GEE92
You mention, 3350. Was that 1.3350 or 1.33050? Thanks!
UnknownUnicorn9177211
Fantastic idea!
InkyGrip
nice idea man! upvote!
ProjectSyndicate
EURUSD H4: 2000 HEAVY RESISTANCE / H*S setup(NEW)
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