GU short entry zones to watch in Red.
PM May keeps her position so the Pound got a relief rally.
But her margin of victory was not impressive, and that was her OWN party!
As well, the EU nogotiaters are giving May cold shoulders (rightfully so).
So I think a lot GBP shorts closed being at support and ''good'' news, while some bulls are getting in.
But I do not expect this rally to go much past this week, as people close up for the weekend.
Lets see how far this bounce reaches. The higher the better for a short entry!!!
I am NOT confident enough that it will go much higher, so am not long.
I WAS confident at the bottom around 1.248 where I did get a nice long entry. (see ideas below)
I AM confident that the Brexit situation has NOT improved, so the rally should reset the price to just before the no-confidence vote was announced.
Background:
I am a Dollar Bull and Pound Bear, and will remain so until BOE starts talking about rate hikes or PM May starts presenting a positive and plausible Brexit scenario.
My GU adventure started with a search for top of uptrend around Sept 20th
Then came the big drop, which I caught most of. I started looking for bounces to short
Next I was looking for 1.2700 as a bottom which was hit and bounced hard
After taking some longs on the 1.2700 bounce, I was looking for shorts again:
Then some shorts down to 1.2480, which looking like serious support so flipped into longs:
And now that it has bounced, I am looking for possible short entries again
PM May keeps her position so the Pound got a relief rally.
But her margin of victory was not impressive, and that was her OWN party!
As well, the EU nogotiaters are giving May cold shoulders (rightfully so).
So I think a lot GBP shorts closed being at support and ''good'' news, while some bulls are getting in.
But I do not expect this rally to go much past this week, as people close up for the weekend.
Lets see how far this bounce reaches. The higher the better for a short entry!!!
I am NOT confident enough that it will go much higher, so am not long.
I WAS confident at the bottom around 1.248 where I did get a nice long entry. (see ideas below)
I AM confident that the Brexit situation has NOT improved, so the rally should reset the price to just before the no-confidence vote was announced.
Background:
I am a Dollar Bull and Pound Bear, and will remain so until BOE starts talking about rate hikes or PM May starts presenting a positive and plausible Brexit scenario.
My GU adventure started with a search for top of uptrend around Sept 20th
Then came the big drop, which I caught most of. I started looking for bounces to short
Next I was looking for 1.2700 as a bottom which was hit and bounced hard
After taking some longs on the 1.2700 bounce, I was looking for shorts again:
Then some shorts down to 1.2480, which looking like serious support so flipped into longs:
And now that it has bounced, I am looking for possible short entries again
the Golden Ratio is my Religion
the Trading View is my Nation
the Moderator Tag is my Flag
the Trading View is my Nation
the Moderator Tag is my Flag
Related publications
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.
the Golden Ratio is my Religion
the Trading View is my Nation
the Moderator Tag is my Flag
the Trading View is my Nation
the Moderator Tag is my Flag
Related publications
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.