GBP/USD Reversal?
Observation:
1) There is a divergence between price and momentum.
2) The trend is still bearish.
Recommendation:
1) Long now on a small position and add on if/when the trend reverses.
2) If you are using Ichimoku, add more to your position when the TS crosses the KS, when the KS turns upward, and when the price closes above the cloud.
3) Set tight stops and adjust it when profiting.
Thanks and happy trading!
1) There is a divergence between price and momentum.
2) The trend is still bearish.
Recommendation:
1) Long now on a small position and add on if/when the trend reverses.
2) If you are using Ichimoku, add more to your position when the TS crosses the KS, when the KS turns upward, and when the price closes above the cloud.
3) Set tight stops and adjust it when profiting.
Thanks and happy trading!
Note
Sticking to the trade. The stop has not yet been reached (which is set just below the most recent low).Note
Trade is stopped out. Trend continues to be bearish.Note
I'm gonna continue to monitor this pair and possibly go long again once there are more signs of reversal. But going to leave it alone for now.
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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.
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.