GBPUSD long
Updated
I still favor another high for GBPUSD although we saw a strong reversal after last weeks exit polls.Short term we have to deal with a bullish impulse after last weeks NFP data, therefore we should be looking for an easy and safe trade set-up. I will be watching for a minor consolidation (comparable to my AUDUSD update of today) and buy the continuation. Stop loss should be below that consolidation which will give us at least a 3/1 Risk/Reward trade. If it doesn't show us that consolidation I simply let this pair go for now because my bias is bullish at the moment.
Updates will follow.
timstuyts.com
facebook.com/timstuyts
youtube.com/watch?v=HvmWTm4fcl8
Updates will follow.
timstuyts.com
facebook.com/timstuyts
youtube.com/watch?v=HvmWTm4fcl8
Order cancelled
Guy's we saw a 5 wave impulse lower after the opening gap and I can focus on this complex structure but I decided to let it go for now because the market presents several high probability set-ups in other pairs and I rather ignore the noise in GBPUSD at the moment then trade with less precision. The set-up I was looking for however was not confirmed and due to the structure invalided.
Related publications
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.