GBPUSD short scalp Idea: fade the GU bounce

1 Nov 2018

Quick scalp opportunity, but will need to watch closely.

Just a Weekly Pivot play, looking to hit it, then hug it, then a reversal pattern just below.
Reversal patterns like micro Head-n-Shoulders, Bearish Engulfing 15 min candle, etc.
Strong break and hold above the Pivot completely invalidates shorting possibility

This is a follow up to my ''Big Short'' which finally climaxed at 1.2700

1 Nov 2018

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And here we are, at the Weekly Central Pivot (green). watching closely....

1 Nov 2018

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We hit it, will we Hug it? or blow by?

1 Nov 2018

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Hmm, looks like this idea is shot, unless it comes back below that Pivot (certainly possible that the spike was a stop hunt)

1 Nov 2018

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Back under the pivot, but this red zone might now act as support (I might flip it green if so), thus watching closely now and there is news coming

1 Nov 2018

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Now looking for something like this (Hug then separate)

1 Nov 2018

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now watching for something like this

1 Nov 2018

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This is an example of ''Stitching'' a price, once the stitch is done, that price becomes a strong res/sup
s3.amazonaws.com/tradingview/snapshots/s/sd54gjmE.png