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SroshMayi
Aug 5, 2021 9:50 AM

GBPUSD 4H (Downward ) Short

British Pound/U.S. DollarFXCM

Description

Gbpusd , the price will try to touch the lower of the channel, due to support level,
I expect will growth to down till 1.3833

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Tendency: downward

Entry: under 1.3927

Tp.: 1.3832 & 1.3763 & 1.3682
Sl.: 1.4000
Comments
Helena_FX
Ok, you have GBPUSD -Short on a 4H timeframe and at the same time you have USDCHF - Short? I am not sure if you're familiar with "correlation" but these two pairs are strongly negatively correlated which means if one goes down the other one goes up and vice versa. So one of your ideas will fail let's see which one GBPUSD or USDCHF?
SroshMayi
@Helena_FX yep you’re right, i know this but sometimes not working at the same way especially at the midweek or if the another currency have a good news and, so you are right but not working all the time the same way, and now also worked the same like you said, USDCHF goes to up, and GBPUSD goes to down .
Helena_FX
@sroshberwary_fx, The thing is, you posted this idea a day before NFP report and as we all know the NFP moves the market a lot most of the times so I understand when you say the correlation doesn't work every time, but I wouldn't count on that right before NFP. I managed to get 70 pips today on USDCHF Buy. Hope you had a good trading day too. Good luck, I like your ideas by the way, keep it up.
SroshMayi
@Helena_FX, yep exactly you right, thank you soo much, good luck for you :)
SroshMayi
@Helena_FX thanks for your support
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