GBPUSD short to go long: GU to correct then go up more?

7 окт. 2018 г.

GU moved up with momentum late last week.
I am looking for a pullback and then continuation up.
Of course, Brexit news could stop any move instantly, and this up move was based mostly on talks with EU.

So I am watching the green zones for support to enter longs, and red zones for take profits.

Background
My GU adventure started with a search for top of uptrend around Sept 20th

Then came the big drop, which I caught most of. Then I started looking for bounces to short

After catching a few scalps and a couple big rides down, I was then waiting for a pull back again

During the pullback, I managed to get in a few short scalps but with tight stops

Then, just before NFP, the Pound started getting some good news and showing signs of bullishness so I threw some longs down

Which brings me to the current plan, expecting a wave 4 retrace to then long into a wave 5 which could easily become extended if Brexit sentiment remains positive

8 окт. 2018 г.

Заметка

GU approaching first possible support. might bounce here

8 окт. 2018 г.

Заметка

GU bulls tying to hold the first support. But the break below 1.618 extension was not a good sign for bulls

8 окт. 2018 г.

Заметка

London Open pierced the support, as hinted by break of the 1.618 earlier

8 окт. 2018 г.

Заметка

Well we got quite a retrace, due to Brexit news.
Price broke through both support zones, and is close to invading wave 1 territory.
ie: uptrend might be done. Evaluating now, and will post an updated idea.