Gbp-usd-short
GBPUSD - Possible short setup Lower lows and lower highs on the higher time frames. The pair has respected the descending trendline and has been rejected from the monthly/weekly resistance zone highlighted blue. Price is also floating around the 61.8 fib. I am looking to make a new low around the fib extension.
GBPUSD Short Position (4Hr Timeframe)• Monthly- MACD bullish crossover
• Weekly – MACD signalling bearish move as crossover approaching
• Daily – broken out of rising trend with further bearish move due to last week fundamentals
- MACD about to cross signalling bearish move
• 4 Hour- will wait for retracement/pull back before taking position
• Hourly- MACD signalling possible retracement/pullback which could produce a good breakout opportunity
GBPUSD Short Position (1hr Timeframe)- Potential short position once the trend retests the area of resistance within the channel
- Be wary of the economic data coming out of the US
- will look to take position once a bearish candle stick pattern appears in the 4hr Timeframe once the area of resistance is hit
GBPUSD ShortSetting up sell stop order with TP at previous period's S4 fib line (green) and SL at upper BB and current base fib line. Higher time frame charts support the drop though there's still probability that this pair will go ranging again, but I think it will drop near 1.20 (this year's low) to test the psychological support before either bouncing up or dropping further--depending on the sentiment regarding Brexit and Trump.
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D:
W:
Confidence: A (technicals are aligned with fundamentals and current sentiment)
GBPUSD Short Setup Good evening traders.
Earlier today we took a successful short-term short trade on this pair as shown below:
You will see in the trade updates that it was closed with about 40 pip profit.
With the buying pressure holding we are expecting to see another push to the upside.
A rally up into the 1.2775 figure will likely be matched with swift selling.
It is up to you how you decide to trade the level, but I advise placing a short order near or at the figure and using a 40-50 pip stop loss.
Look to get whatever you can on the profit side.
Good luck!
GBPUSD Short-term Sell Hello traders!
Strong selling pressure came in off the high off the day at 1.2545
Below the level will see further consolidation/downside.
An aggressive move above the high will be needed to regain upside momentum.
I will be looking to fade the highs.
How you setup your entry, stop, and exit is up to you, but I suggest fading the high and using a 40-50 pip stop loss.
Enjoy!
GBPUSD Selling Opportunities Preferred!Good evening traders.
The market gapped open down below the 1.0239 support figure. Since then we have seen consolidation.
The pressure is certainly to the downside so selling opportunities are preferred until proven otherwise.
The 1.2122 figure marks short-term resistance as well as the gap-fill.
An upside move into the figure will likely be matched with selling.
Enjoy!