Short

GBPUSD short term sell

Updated

Potential for a lot more upside on cable but there may be a retracement first. Swift volatility expected today at ECB announcement (12:45 UK time).

Trade active

Move stops to BE. Watch for a bounce off trendline. Potential to add to this trade if it breaks and forms a flag below.

Note

Potential to add to this trade now valid. Await an uptrend correction similar to the one that opened this trade and await a break to the downside. Once opened, stops should be above the trendline beginning 15/09.

Note

+340 pips! Flag now forming. Sell the break. The downtrend will likely continue to test the low of this chart (1.2866).

Trade closed manually

Closed at 12290 due to price action now looking bullish. Over 1000 pips profit.

judderod

Related publications

GBPUSD in corrective structure.

by anilmangal

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.