It's GO TIME for GBPUSD. I love this set up if....If you've been following the move and the charts and videos I've been posted you know all week we've been looking for USD weakness and it's coming in full force!
GBPUSD looking very interesting with a close above 1.3277, there's nothing but clear sky above and I want to be in on the action.
Moves and holds above 1.3277 make me very interested in 1.3800 area for a target. As always, I won't give this much room, if it can't hold above the break out zone I'll exit quickly with a small loss.
Jaredjohnson
very short term bearish outlookwe have a very short term bearish outlook here, several of the USD pairs are looking ready for at least a small correction and we want to get in on the action.
EURUSD, USDCHF and others are looking ready for a small correction towards USD weakness and the DXY is looking ready to lead the way.
Wedge Broke, Sell RalliesEURUSD did a nice job of breaking the rising wedge, I've been shorting it since 1.1330. I think/hope we have another opportunity to sell this pair at a retest of the daily pivot at 1.1320.
SELL trend line break for confirmation
TARGET: 1.1200/1.1150
STOP: above the highs, failure of the wedge
I'll be updating the details about this in our free chat, you can log in (free) at bit.ly/dtfxfreechat
Should we zig or zag? YES!NZDJPY has a few clean levels, I don't give a good gosh darn which way it goes, I'll take either one of these, a move lower should produce 200-300 pips and likewise a move up should be similar. We just need to get out of this channel/trend line area.
See how we trade and manage this position at www.daytradersfx.com
Come on GBP Light My Fire (rally)GBPCHF is sometimes a quick mover and doesn't give a lot of time to think about it. For that I'm ready to trade a break, it's setting up for a nice move up into the weekly pivot, that's only about 100 pips but I don't kick 100 pips out of bed for eating crackers.
If this 1.2565 area doesn't hold, I'll get out pretty quickly, otherwise I'm holding onto 1.2670 for deal life!
See more of this at www.daytradersfx.com