anilmangal
Short

GBPUSD looking for a sell setup.

FX:GBPUSD   British Pound/U.S. Dollar
1586 31 125
The GBPUSD             is still in consolidation, now looking more down than up .
I will be selling on break and lower degree consolidation.
At this point an am expected to tell you the the GBP is weak because of this or that and i am expecting this person to say bla bla and that some fundamental indication is showing ;;;;;;; because the Chinese stock market is going crazy and the USD is bla bla ... well guess what , I DON'T KNOW A THING ABOUT ALL THOSE STUFF and I doubt anyone here knows.
I look at the charts for patterns that has a HIGH PROBABILITY of going one way or the other (based on past studies) and if it does that I take the trade with a good Risk management.

Like if you agree.
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If this breaks, what is your profit target? By the way, great chart! You always do great work.
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If we get that break of 1.5460's then il wait for a pull back into structure and short this down to at least 1.5350's

Good work Anilmangal
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anilmangal PRO SmartTradingFX
yes ,but we in the trading room already sold the break of 15 min bear flag inside the consolidation .
+2 Reply
anilmangal PRO SmartTradingFX
don't forget to click the thumbs up if you agree with the idea.
+1 Reply
PMI in few mins.
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Anil, how was the yellow color upper trendline resistance is plotted. In my chart when I plot it like yours, it goes through waves, instead of connecting high or low points. Any tips?
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fxmillions fxmillions
Btw, I have a long bias according to my analysis on the Daily. Any thoughts?
+1 Reply
I like the way your thinking Anil.
+1 Reply
anilmangal PRO sag.deconinck
Thank you .
+1 Reply
It always great to see other strategies and then to compare. Sharing ideas is great in this lonely traders life.
+2 Reply
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