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Gu

$GBPUSD - False Breakout - Going ShortAs it was nearing the highs, I put a small lot size on at 1.33104 for 10 pips to 1.33204 and got a short 10 pip scalp on the way up. Just because I knew it would break the highs to trigger the smart money stop runs and clear out tight stop losses people already had on sells. Now that it's above the Highs, I believe this is a false breakout as it's holding steady, letting people believe it will breakout, putting in their buy bids or waiting for it to retest the last high, or putting their stop losses just below the last high and already buying. I think Smart Money knows this and will go short to take out that liquidity that is building up at the current moment. Secondly, On a 4-hour chart, this is historically a great support/resistance level between 1.332 and 1.336. It's also at about the 80% retracement level on a Daily Chart (which is where you see most reversals occur). Now, It could turn to support and buy, but that's where I turned to the COT (Commitment of Traders) indicator. The Commercial Banks, you know like JP Morgan, IMF, Deutsch Bank, etc. decided to add more shorts last week. Not a lot more, but enough to be noticeable, that the shorts would've only netted about 116 pips. I believe if they were going to be adding shorts they're looking for more than 116 pips that only took about a day to achieve. (See Chart) On Barchart.com the COT report has commercial banks adding about 2,000 short positions as of 11/17. I believe they're looking for a much shorter move in the short term. But long term I do expect this resistance area to be broken within the next few months. Additionally, I always like to compare GU to EU as they move similarly. And EU is definitely looking like a swing sell. The Pound is definitely much stronger than the Euro, which is why I think the Euro will sell off much more, but in the short term, I think we'll see the Pound sell with it. I'm not 100% it will reach 1.32000. So I'm looking for take profit zones to shave off some earnings on the way down. The first about 25 pips, the second about 65 pips, the third about 115 pips, and I always leave a trailer at the end to see if I have a miracle drop below that. But then again, I could be completely wrong. This is just my analysis and I'm just some guy that likes to post his ideas. Good Luck and Good Trading.
Short
by BodiesXWix
2
GBPUSD SHORTClear breaout from the ascending channel that GU has been traveling in for a while now. We have now got a nice break and rates with confluence from the golden Fibonacci zone. I will be entering a short here to target my -27.00 extension. I will set the trade to break even once 0.00 is hit and close Position 1 after -27.00 extension is hit. Im gonna let the other position run to -61.8 at breakeven after TP1 is secured. Lets see what happens. We have 1 loser today so far.
Short
by jacolbywilliams11
GBPUSD PREDICTIONFor the first time in months I'm excited to trade GU this week! So on the daily, we have a bullish pennant whereas on the 4hr we have a Head and Shoulders. What does that mean? Simple, we don't take the sell, as that goes against our higher timeframe bias as we're still in an uptrend due to higher highs and lows. We wait for that neckline to be breached and for the magic to happen in the orange circle, taking buys all the way up. Magic? 3rd touch of trendline. Golden 61,8% Fib area Daily support. 3 great confluences for buys! Sells if the pennant is broken.
Long
by RealistFX
$GBPUSD - Sell Bias Setup - Sell at Breaker Clear the LowThe picture is pretty self descriptive. The next daily bias seems to be heading toward the direction of selling. There are many daily lows stacked up ready to be broken as well as an equal low setup just prior to the previous daily lows. I think during the Asian session we'll see Cable range but create equal highs and lows that it will want to break to creating a breaker that will propel it to the current breaker. I'm seeing the same Bias in EURUSD as it seems to be struggling to create a higher high. The current swing high in GU was formed from a previous breaker but the low has yet to be cleared. To be honest it could just keep going lower without pulling back for the set-up. But if it does pull back to around 1.30995 I will be looking to sell with about a 40-50 pip stop loss, but it should gain over 100 pips to break the low so well worth the risk to reward. But I like to peel off profits in case it does not get to my target so I have planned 3 TP zones and depending on price action will depend on how much I move my stop loss and where. Will be giving updates as I continue to watch this setup unfold. Edit: The S/L Depicted in the graph may be too tight. I may loosen it back to 1.31500 depending how the market is reacting. I don't want to go above the prior swing high of 1.31757 because if it breaks that, it's more than likely going higher. There could also be a lower sell at 1.30787 in which it may not get higher as that is another bearish breaker. Just another thing to watch for in this setup.
Short
by BodiesXWix