Remarkable climb by the Pound recently.
Brexit news has been somewhat positive lately, and the market likes it a lot!
So much so that even bad economic reports are not causing any dips, smells like euphoria.
Bullish momentum seems strong, but in about to run into resistance zones.
The red zones are shorting opportunities I will be watching.
The green zones are initial Take Profit zones, but that will be adjusted based on price action.
Background
My GU adventure started with a search for top of uptrend around Sept 20th
Then came the big drop, which I caught most of. Then I started looking for bounces to short
After catching a few scalps and a couple big rides down, I was waiting for a pull back again
Last, I was looking for 1.2700 target which was hit and bounced hard
Which brings me to the current plan, looking for short entries
Brexit news has been somewhat positive lately, and the market likes it a lot!
So much so that even bad economic reports are not causing any dips, smells like euphoria.
Bullish momentum seems strong, but in about to run into resistance zones.
The red zones are shorting opportunities I will be watching.
The green zones are initial Take Profit zones, but that will be adjusted based on price action.
Background
My GU adventure started with a search for top of uptrend around Sept 20th
Then came the big drop, which I caught most of. Then I started looking for bounces to short
After catching a few scalps and a couple big rides down, I was waiting for a pull back again
Last, I was looking for 1.2700 target which was hit and bounced hard
Which brings me to the current plan, looking for short entries
Note
Here we are at the first resistance zone. Note
Nice rejection off the first zone. .
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.