GBPUSD Uptrend Continuation (5th Wave)
Updated
Still of the view GBPUSD is in a medium term uptrend
Buy current levels (1.4190) for 1.4650 (3.77 Risk:Reward)
Add to position on further dips into 1.4140
TP1 - 1.4255
TP2 - 1.4365
In reversal, phase in 3x shorts below 1.4060 for break even or small profits
Buy current levels (1.4190) for 1.4650 (3.77 Risk:Reward)
Add to position on further dips into 1.4140
TP1 - 1.4255
TP2 - 1.4365
In reversal, phase in 3x shorts below 1.4060 for break even or small profits
Note
1.4140 entries triggeredNote
2 longs closed at 1.4150Still favour GBPUSD going higher however retail positioning is heavily long
Outcome is 2*10pips = +20 pips
1.4190 is still open and sitting at -50 pips
Would favour adding to position down towards 1.4100-1.14115
Trade closed manually
Remaining lot closed at 1.4140 for =50 pipsTotal outcome +70
Scenario still valid. Will look to re-enter on dips.
Note
1.4450 was a lower high and we have broken below 1.4250 so time to close this off
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