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Gbpusdshortplay

GBPUSD Short IdeaSimilar to my AUDUSD idea, I have technical reasons to believe that GBPUSD is about to make a swift move downward. Short term bear trend here has been obscured by absorbent buying on each attempt to flush out longs. 1:6 R:R On Weekly timeframe you will see a just recently posted bearish engulfing candle. On Monthly timeframe you will see a just recently posted hanging man candle. USD continues to push up with the rest of the market and until trend suggests otherwise, I expect that to continue. Thoughts? Trade your own plan, this is just an idea.
Short
by Acitsilos
Dancing Queen We have to consider with Brexit and all, the Queen just isn’t dancing to the same tune anymore. News and rumors of news on developments or political maneuvers just seemingly moves the Queen around the dance floor with swooping and then spinning around that would make any 90-year-old-or something lightheaded... it time for that break in dancing like it’s 1999. And here is another Forex Trading Snack. I’ve been trading the GBPUSD to the long side mostly with sprinkles of counter trend shorts. I mean you can go back and check my idea-postings of the past. But currently, for this week, with a longer term double bottom pattern played out. Not to mention a ascending wedge pattern that was building into that longer term pattern top, we now have a broken wedge on the 4H and as good risk to reward plays go, selling any small rallies is the play in my opinion. Here is the land scope view. Be on the lookout for my trade setup that I will post shortly under the comments section as a update to this post. No trades are filled at this time. Perhaps shortly though? As always, in trading you either make dust or you eat dust. All the best to your trades. ( if you decide to trade any of these ideas, you assume all risk of loss! )
Short
by PipsTradingClub