GBPUSD: Potential weekly downtrend spotted
We have an interesting trade setting up in GBPUSD.
The time at mode signal points to an intermediate term decline to 1.4222, that can extend to 1.39366.
What's interesting about it is that the resistance above very strong and that the signal generates close to the expected Fed rate hike week. I think we might get a fill this week, and if the trade works, it will be a very sharp selloff.
For assistance managing positions and entering without having to do the work, you can check out my Zulutrade page in my profile, I'll be sending trades through it from now on for convenience. Seems like a fair way for people to follow my trades without being forced to pay a fixed monthly fee (which only benefits the trader, who doesn't need to even profit from trades to make money! -red flag-).
Follow me on twitter, I'll update charts here but not with trade management and trailing suggestions like before (I do need to pay bills :) ) Check out my recent TLT trade for an example of trade management. We will have few trades, but good ones if all goes as expected, the sharp selloff in the S&P500 was the start of a new trending enviroment possibly, and if that's the case, we can expect to see strong volatility, and sharp and wide trending legs for us to take.
Cheers!
Ivan.
The time at mode signal points to an intermediate term decline to 1.4222, that can extend to 1.39366.
What's interesting about it is that the resistance above very strong and that the signal generates close to the expected Fed rate hike week. I think we might get a fill this week, and if the trade works, it will be a very sharp selloff.
For assistance managing positions and entering without having to do the work, you can check out my Zulutrade page in my profile, I'll be sending trades through it from now on for convenience. Seems like a fair way for people to follow my trades without being forced to pay a fixed monthly fee (which only benefits the trader, who doesn't need to even profit from trades to make money! -red flag-).
Follow me on twitter, I'll update charts here but not with trade management and trailing suggestions like before (I do need to pay bills :) ) Check out my recent TLT trade for an example of trade management. We will have few trades, but good ones if all goes as expected, the sharp selloff in the S&P500 was the start of a new trending enviroment possibly, and if that's the case, we can expect to see strong volatility, and sharp and wide trending legs for us to take.
Cheers!
Ivan.
Trade closed: target reached:
Target 1 exceeded, can hold it with break even stop if in.
Comment:
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Trade active
