GU is following the flow, being a bit more resilient thant euro, but still, it's beeing hit pretty hard by dollar strenght.
But, this trade could be taken just looking at TA, I entered it last thursday night after the wick that came to retest the 50% Fib level and the trendline, but, I still believe an entry could be made on the last daily candle. For those working on smaller TF, just look for retracement, break and retest, make sure you gat a 2:1 RR at least and go!
Like every trade, it might not make it but hey, if you're being consistent on your entries rules then, probabilities will fall in your favor with time. I think this trade is falling into my requirements.
Why am I shorting GU :
1) Strong selling pressure on GBP/strong buying pressure on USD
2) GBP made a strong downward movement,
3) it retraced to 50% FIB
4) it broke and retested the trendline it was in since last october.
5) my TP is above next support @ 1800ish + level
Let's keep on riding this one!
Cheers and safe trading!
Leave your comments!
But, this trade could be taken just looking at TA, I entered it last thursday night after the wick that came to retest the 50% Fib level and the trendline, but, I still believe an entry could be made on the last daily candle. For those working on smaller TF, just look for retracement, break and retest, make sure you gat a 2:1 RR at least and go!
Like every trade, it might not make it but hey, if you're being consistent on your entries rules then, probabilities will fall in your favor with time. I think this trade is falling into my requirements.
Why am I shorting GU :
1) Strong selling pressure on GBP/strong buying pressure on USD
2) GBP made a strong downward movement,
3) it retraced to 50% FIB
4) it broke and retested the trendline it was in since last october.
5) my TP is above next support @ 1800ish + level
Let's keep on riding this one!
Cheers and safe trading!
Leave your comments!
Trade closed: stop reached:
Same as EU gat stopped out by the news
Trade active:
So I've reentered on that daily wick
Trade closed: target reached:
And this one made it
Trade active:
Reentered right before the news, assuming they were gonna be "better than expected for the dollar
Trade closed: target reached:
And this one made it as well