Due to price failing to hold at MM2 I am not a fan of this trade so I’ll reduce the lot size. We also have some Brexit events early in the week and we all know how those can impact Pound. I would like GBPUSD to move higher as I am in a long on GBPJPY.

GBPUSD Daily

Price is at MS1 and the bottom of the range. Note the trend line has not been broken.

GBPUSD H4

WM2 - WM4. WM4 marks the top of the range. I want to see a break above 1.31 though before entering on a pullback. See M15

GBPUSD M15

A break above 1.31 with a pullback for a long.

GBPJPY Daily

MM2 - end of year

GBPJPY H4

Price opened at WM2

GBPJPY M15

A double bottom at MM2/ WM2, up to MPP, down to role reversal, a break of MPP and WPP pivot cluster, a pullback off 150.500 to WPP and then up through WM3

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.