FX:GBPUSD   British Pound/U.S. Dollar
205 0 9
a year ago
I did short GU @1.5470 under the impression of strong res line (1.5490) and closed it at +1. Now price drop more. The reason I closed that trade is because i change my view from bearish to bullish . Im not really fan of counter-trend trading.

However, when looking at others idea and chat with few trader here, i found that there are plenty reason why GU will go long.

1. There is AO divergence earlier (brown line) which i missed. I believe divergence is great indication that trend will reverse.

2. Price indeed show an uptrend even in Daily by looking at A and C.

3. I not fond with harmonic pattern which in case this might be a butterfly pattern . Been study this for awhile and this perhaps my 1st attempt to trade this based on harmonic pattern study. As for now, we waiting for D to go short.

4. Price break my descending trendline.

As for now, I waiting for price to retrace so i can enter long. 1.5400 seem a good round number to go but still i want to wait for signal first. Maybe will enter long early. Time will tell...

Lets see.. happy trading...
a year ago
Trade active: Just enter long @ 1.5430 with SL 1.5395. Feeling good so far. But now i really 'hope' price will break 1.5490 and to the mood... well, at least 1.5630.

No TP at the moment...
a year ago
Trade closed: stop reached: Oh well, will wait for other long setup. Gotta watch out for pin bar in D1 and res line at 1.5490. Seem my initial analysis about short is good.

However, I still stick to this plan...
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