EverythingForex
Long

UPDATE #3: GBPUSD: Post BoE Bearish Cypher TP1+2 Hit (+136 pips)

FX:GBPUSD   British Pound/U.S. Dollar
EDIT: I mislabeled the green bullish bat as a bullish crab .

In my last post on this pair (see Related Ideas: " UPDATE #1:GBPUSD: Let's Try This AGAIN! Bearish Cypher Completed) I left off with prices having completed the bearish cypher (blue) and starting to retrace back down and hitting TP1 for +48 pips. Admittedly, I had been long up to that cypher and said I would not play the cypher and stay LONG but that's not what I did. PA at that point caused me to close the LONGS and go SHORT. But since I did not post on that, I will not take any credit for it. But I hope that some of you would've seen the bearish PA at the completed cypher and went short on it. I am posting the profits on that cypher here for your reference.

But let's see what is happening now post-BoE announcement. There is now a COMPLETED Gartley from the recent PA after the announcement. Overall, I am still bullish on this pair. Prices have tested the entire Goldilocks Zone and have now started to climb back up. It's a good place to take a LONG position with stops below the X point of the Gartley . Should prices go down and break the Gartley , then all bets are off and this entire post is invalidated and we may see a larger bearish move down.
BIG NEWS! Want a FULL WEEK of FREE ACCESS to my member's charts & analysis? If you want it, PM me! Also, for all who PM me, you will be entered to win a FREE MONTH'S Subscription! PM me for details!
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out