GBPUSD: Long Bias

16 Mac 2016

Gonna risk some pips here ~
SL will move to breakeven when price reached 1.416 / 1.419

R:R 13.69 (slightly greedy but I personally think its achievable)

DISCLAIMER:
I'm only providing my own thought toward the market but not making any trade call.

Hit the like button if you agree with my idea. As it will give me confidence to continue posting my idea. And feel free to comment in a respectful manner if you have a different view on it. Appreciate :)

17 Mac 2016

Nota

Sorry ~ rushing to bed last night ... therefore didn't explain much on this
Above Bearish butterfly drawn based on Daily chart

There is 1 level I will be concern (around 1.466) because it can be the completion of Bearish butterfly "Fibo BC leg 1.618 retracement". Therefore I will do a tight SL on that level in case the market turnover from that point onwards. Besides, that level is also a resistance level which hold up nicely last time. Of course the above chart I drawn is based on best scenario which the price can go up to 1.49 which is the BC leg 2.24 retracement. The completion of Bearish butterfly can be anyway around 1.466 to 1.49. Therefore trade might be closed anytime when I found the market show a reversal sign.

17 Mac 2016

Nota

SL moved to breakeven ... Preserve your capital is always the "must" thing to do in trading :)
Good Luck :)

21 Mac 2016

Nota

SL moved to 1.439 as the chart is showing some reversal sign.

21 Mac 2016

Dagangan ditutup: hentian tercapai

Profit 307 pips. Next !!! :)

23 Mac 2016

Nota

Entered long again for GU ~
1) Fibo 0.618 retracement
2) Support zone (although it broken but look like it's a false break)
Continue heading toward D leg ... GO !!!!
Good luck

1 Apr 2016

Nota

Bullish Bat
Expecting a pull back at 1.4224 (completion of bullish bat and also a support zone)

1 Apr 2016

Dagangan ditutup secara manual

Trade closed due to breakout of triangle and also strong upside tail in 1 hour & 4 hours candle showing strong selling pressure.
Anyway short trade will not be taken as daily Bearish butterfly rule not violated yet. therefore still expecting a upside move.
1.4224 will be my long trade entry / 1.4165 depending on where market showing reversal sign.
Close long position with a profit of 260+ pips. Next !!!

1 Apr 2016

Dagangan aktif

Entered long at 1.42170

4 Apr 2016

Nota

spotted another harmonic pattern on 4 hours chart. Another confirmation of upside movement for GU. The D leg of this pattern coincide exactly on the resistance zone. Potential area to close long position, but still need to depends on how the market react ...
Good luck :)

6 Apr 2016

Dagangan ditutup: hentian tercapai

lose 97 pips :)
Next !!!