GBPUSD - Potential Longs
Updated
Ill be honest. The last thing I am doing is selling the lows of GBPUSD.
I am not disregarding the fact it could sell off at the lows. But, I would rather see the price break the lows and trap some traders below.
I am expecting a Bearish continuation Monday ish, then hoping to see a trap, then I will buy. DEPENDING ON PA
Things to consider, GBP is very unstable with Brexit talks still emerging at unexpected times, causing the pound to crash like it did Thursday. After we saw a hike, carney had a speech 30 minutes after and mentioned a 'no deal Brexit' and the pound fell 110 points.
This is not a guaranteed set up, lets see how price reacts at the lows.
I am not disregarding the fact it could sell off at the lows. But, I would rather see the price break the lows and trap some traders below.
I am expecting a Bearish continuation Monday ish, then hoping to see a trap, then I will buy. DEPENDING ON PA
Things to consider, GBP is very unstable with Brexit talks still emerging at unexpected times, causing the pound to crash like it did Thursday. After we saw a hike, carney had a speech 30 minutes after and mentioned a 'no deal Brexit' and the pound fell 110 points.
This is not a guaranteed set up, lets see how price reacts at the lows.
Note
Going Long soon, be readyNote
Looking good, area was a little off. Was 20 pips below the blue zone. Highly manageable! Should be good for the upside now..
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