(F) GBPUSD: Post-NFP Trade Update - No Change In Outlook

GBPUSD: Still In A Retrace Of The Wave (3)

Wednesday 7:00AM TRADE UPDATE: Closed 50%@1.44800 Moved SL to B/E. Profits: +230 per lot *2 lots = +460 pips
Friday 8:04AM Closed another 25%@1.44835 Moved SL to 1.46500. Up-To-Date Profits: 460 + 227 = +687 pips Remaining 1 lot to run.

My last post on GBPUSD, I said that this pair was starting a retrace of that large wave (3) that ended. The NFP release did nothing to change that outlook. It is still in that wave (4) retrace at the moment. Here is the previous chart I posted with my projections:

In the main chart is the updated chart with the current price action. You can see how well prices have followed my projections. And I am expecting that prices will get to my profit target. If not even a little lower. I have marked on the chart a critical zone where I am expecting some sort of reaction and the possible end to the retracement. When prices get there, then I will review the price action and see what it is saying and whether or not to take a BUY. Do not automatically BUY at that point. Must have a valid buy setup along with confirming price action before even considering that.

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Please keep in mind that I am not giving any trading signals or trade calls here. Only providing my own trade thoughts for your benefit and insight as to my trading technique and style. Please don't ask if you should or should not take the trade or ask for stop loss and take profit levels. Any SL or TP given on my trades are my own I have used for my trade and are not recommendations for you to use. If you are not sure, then you do not have a trading plan for yourself in place. I suggest you make one before you continue to do any trading!

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