GBPUSD INTRA DAY SETUP (short term play)

All analysis on the chart.

*WARNING. This is a pair for which long term, I am bullish. However, I believe we could snag a 1:2 or 1:3 Risk Reward on this pair by playing the short term sells.
From this retrace, I will be entering LONGS for GU. Why not try to grab both directions, a short term short right in to a long term long!? Other than the fact that it brings a lot of risk I suppose.

Happy trading

Comment:

ADJUST TL.
Wait for serious break.
Move ALL TP up 10-20 pips to follow trend.

Continue to wait, we either have a range or we will get our retrace.

Trade closed: target reached:

GOT IT!

We got our take profit (actually 2 of them) closing our short term plays and grabbing some nice and quick profit!!

Now, we go for longs!

Comment:

Just would like to point out,

we called shorts EXACTLY to our take profit,
and as stated on the chart, we switched to LONGS at the take profits
and got BOTH ENDS OF THIS TRADE!

Comment:

I know this is August, but MAN HOW MUCH MONEY THIS BROUGHT IN!

Trade closed: target reached