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S4Y1
Apr 29, 2016 6:14 PM

Short view on GBPUSD Short

British Pound/U.S. DollarFXCM

Description

Because of the strong resistance @1.46653 and the chart seems like DOUBLE TOP. I would like have a strong short view on GBPUSD (you can also find a trend resistance in day chart)

I have two guesses on GBPUSD, which are shown in the picture.

If GBPUSD tests the 1.464 level again and cannot break out. I definitely will short it with a big short position. Maybe I would like take a little bit more risk to do it.
If GBPUSD goes down directly, I prefer sell the pull back. And i would like to control my risk.

For the scenario 1, entry @1.464, TP@1.443, SL@1.47
For the scenario 2, entry @ pull back, TP@1.443, SL@ 1.47

Comment

BTW, if you saw my previous ideas, you would find i already have some short position.
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