1.For people who are holding their short positions are start taking profit out as the price has reaches Strong trend resistance.
2. It is not ok to long at this time as the Brexit is becoming the "past" and the UK central bank will more likely to take some action to make GBP stop falling .
There are few reasons that I have in mind, but I think with the two points above, the GBP will "definitely" (Very confident to say) go up on next week.
My statement will be invalid when :
1.Price shoots above with a long pin bar , and stands above the trend line with some unexpect news .
1.2 Poor data performance on UK , vice versa on EU
2. It is not ok to long at this time as the Brexit is becoming the "past" and the UK central bank will more likely to take some action to make GBP stop falling .
There are few reasons that I have in mind, but I think with the two points above, the GBP will "definitely" (Very confident to say) go up on next week.
My statement will be invalid when :
1.Price shoots above with a long pin bar , and stands above the trend line with some unexpect news .
1.2 Poor data performance on UK , vice versa on EU
Trade active
Position : 0.8510TP: See Arrow Above.
Note
Shorting GU as well.But with this trade, 26 pips so far.
:) Will continue to hold GBP
Note
40+ pipsclose 1/3 position
Note
200 pipis so farSL Set below 30 pips
TP:245 pips
Note
Correction :SL set 30 pips above
Reason why I want to close this trade is because I do not want to risk on the upcoming data (interest rate) of UK. And the volatility of this has reach to maximum , pull back might happen.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.