GBPUSD looking for a bounce to Short more: GU move not done yet?
Looking for a bounce at London Open to enter short again.
I am hoping price will come up to one of the Red zones for entry, and Green zones as Take Profit zones.
As you know, it dropped quite a bit on Friday, which I caught some of because I was looking for a short per this plan.
GU showed a small bounce on Monday (to the .382 fib retrace) but started falling again.
I did catch some scalps on Monday but have now closed and waiting for London to do the usual thing.
I am hoping price will come up to one of the Red zones for entry, and Green zones as Take Profit zones.
As you know, it dropped quite a bit on Friday, which I caught some of because I was looking for a short per this plan.
GU showed a small bounce on Monday (to the .382 fib retrace) but started falling again.
I did catch some scalps on Monday but have now closed and waiting for London to do the usual thing.
Note
GU approaching first possible resistance, watching closely. Note
GU definitely noticed that resistance, watching in small TF now Note
shorts fired Note
Shorts fired, small position for now, will add more if drop takes shape Note
Quite the ride today, between FOMC and Brexit woes .
Note
This support zone also happens to contain the Weekly Central Pivot, which has worked as support. But has been hit 3 times now, and in my option each time a support is hit, it gets a little weaker. And this last hit was with some serious momentum on political news Note
Pound is approaching my first possible support zone. Note
GU blow through the first support zone and almost hit the one below.But it bounced on the 1.30000 round number as one might expect.
The bounce was decent but stopped quickly at the previous support (not returned resistance?)
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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.