GBPUSD shorts re-entry Idea: GU 15min chart bounces to short

4 באוק׳ 2018

This is a followup to my GU shorting adventure linked below.

I am expecting that the current wave down is very close to completion (or has already).
Thus I have closed most of my short positions and watching for a bounce to reenter.

Maybe it does not bounce, Maybe the Dollar keeps on going strong?
I still have 20% of position riding a trailing stop, and will consider adding more if supports are broken.

This all started with this plan looking for an end to the short term uptrend:

After the big drop a few days ago, I took profit and started looking to reenter per this plan:

I then managed the positions per this plan:

The THIRD of this plan is now the green zone in the current plan you are looking at:
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4 באוק׳ 2018

הערה

Almost there, first possible shorting zone

4 באוק׳ 2018

הערה

here we are at first zone. Tempted to take a very small short here

4 באוק׳ 2018

הערה

first small GU Short fired
s3.amazonaws.com/tradingview/snapshots/c/C4Kr8o4t.png prolly a loser, but gotta take the shots, and lower the risk when it looks too good to be true, so a VERY small risk on this trigger

4 באוק׳ 2018

הערה

Yup, a looser :( I will get you at the next trap!

4 באוק׳ 2018

הערה

If at first you don succeed.... trying another small short here

4 באוק׳ 2018

הערה

GU perfect rejection from top of resistance band, now need to see if breaks below the band
s3.amazonaws.com/tradingview/snapshots/j/j3INUAaV.png

4 באוק׳ 2018

הערה

well I scalped each resistance zone, made a few pips, but nothing stuck. looks like an ABC retrace is under way. will analyze and post new chart for next week.