Tradesmanship

(GBPUSD) Daily and 4hr - speculation and analysis

FX:GBPUSD   Pound British/Dolar U.S
Daily -
We can clearly see a descending broadening wedge , which makes this pair Bullish in long term, however I would like to see this pair hit the bottom of the wedge before it heads up, if we do break the blue trend line , its a safe to say to sell after a small consolidation, if we don't then we shall continue heading up.

4hr -
The 4hr time frame also shows a wedge too, but its unclear if its descending or ascending wedge . regardless of the wedge properties, a breakout of either side should be followed by a small consolidation and a big move.

- Sentimental data provided by Mongers Kit shows majority are Long on this pair :
https://gyazo.com/8dbf9867f58b944d2a0a272e23696c69


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If your planning to use them as signal, do your own research first and you are responsible for your own entries, exit, profit and loss management.


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Komen:
down side prevails, safe to short with tight SL
Komen: short SL was hit, we are back to the wedge, waiting to see what happens next.
Komen: daily short confirmed, wait for a little consolidation before selling.
Perdagangan ditutup secara manual: out of this trade with - 50 pips
The walk gbpusd is having is not Bearish :) but cunning :) to trap sellers.. remaining market will tell..
Balas
Tradesmanship newbie2016
I personally think we have not seen the bottom of GBP yet, I feel like we need one more leg down before the real bullish movements start, but we shall see ;) , I will close all my positions before FOMC, am not looking forward to any surprises haha.
Balas
newbie2016 Tradesmanship
I am bearish too.. but i can not ignore bullish moves.. check gbpaud 1hr chart.. double bottom and now trading at neckline of it.. also check 4hr candle.. So watching that gbpaud.. I think gbpusd will remain for more consolidation as I see upside in gbpaud and check gbpjpy as well..

Things are wild as I am bullish usdjpy..
Balas
newbie2016 newbie2016
For gu, key area is 1.305 then 1.30 for today...
Balas
newbie2016 newbie2016
This was the reason.. that I was saying to stay away from gbpusd short.. cuz bullish divergence was going on in other gbp pairs.. literally no movement from gu after news and all others pair was falling..
Balas
Tradesmanship newbie2016
yeah, well it didn't go down as I thought it would but it didn't go up either, its still consolidating, direction still unclear but am still in favour of short.
Balas
newbie2016 Tradesmanship
I think more consolidation on way in gu due to its cross pairs.. check gpbnzd and gbpaud..
Balas
newbie2016 newbie2016
It is still holding bullish divergence... check holding v. nice now above 1.31
Balas
Tradesmanship newbie2016
well fuk lol, am getting out of this, seems like its going your way. I shall come back for this another day
Balas
newbie2016 Tradesmanship
lol not my way.. but market way.. my 1st msg was if gu remains above 1.305 then it will go for 1.32..

I think gu is in still good mood to consolidate then maybe fall.. for now lets see how far it goes..
Balas
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