GBPUSD: Quarterly downtrend
Updated
This is a chart mostly meant for analysis and forecasting, but you could also look to trade it using ETF options, for example selling calls/puts, or if trading the monthly, you could go with a 374 or 400 pip stop.
The risk vs reward is really high, even if you do use this stop loss size.
It's not meant for anyone, mostly an investor or longer term trader would take it at least.
In my opinion, it's likely to get very good short trades in lower timeframes, whenever the 4h, daily or weekly would align with this forecast's direction. A compass of sorts.
For more information and insights into managing this position, scaling in, and understanding the logic behind the technical setups contact me via pm. I'm currently hosting a skype group, where I share trade setups and also provide traders with training, as well as 2 private webinars per week, and also giving tutoring via skype calls, on a one on one basis.
Cheers,
Ivan Labrie
Time at Mode FX
The risk vs reward is really high, even if you do use this stop loss size.
It's not meant for anyone, mostly an investor or longer term trader would take it at least.
In my opinion, it's likely to get very good short trades in lower timeframes, whenever the 4h, daily or weekly would align with this forecast's direction. A compass of sorts.
For more information and insights into managing this position, scaling in, and understanding the logic behind the technical setups contact me via pm. I'm currently hosting a skype group, where I share trade setups and also provide traders with training, as well as 2 private webinars per week, and also giving tutoring via skype calls, on a one on one basis.
Cheers,
Ivan Labrie
Time at Mode FX
Note
We can obtain a weekly entry into this trend after the close.Note
Trade active
Note
On track.Note
En route.Note
No change to forecast.Note
Good chance to add to shorts, stops at 1.4733Note
No doubt that we will hit targets for now...Note
What a visionary huh?Trade closed manually
Looks like this down trend expired last quarter!Now we have a higher high, I think
GBPUSD will hit 1.59 next.Should be good to trade this rally on lower timeframes when safe.
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ivanlabrie.substack.com/
ivanlabrie.substack.com/
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