We'll catch it going down .. It's safer

I have revised my weekly position on the GBPUSD.

The current trend direction is down so I want us to be aligned with it. That is safer.

So, once we enter into the sell zone, we will start looking for sell signals. Don't rush. I'll tell you when I personally enter but you can choose to enter on your own if you see a signal you like.

For the trend direction to change, we would have to break the reversal point. It's far. So we have to choose our entry point wisely.

So stage 1 would be for us to break the critical level up and that would start a correction on a lower timeframe (that might happen after we complete a breaking of the lows).

The safest signal for our entry would be a break of the market structure to the downside. I'll tell when I know what that means ;)

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Good Luck

Kommentera:

this trade is progressing very well

If you want, you can enter counter-trend after a 50% pullback or more targeting 100% of the first leg up and until we reach our target zone where we can think about our planned entry

Kommentera:

We have reached our selling area

The safest strategy from here would be to enter on a break below 1.41040
Earlier signal can be taken but I would not advise it

Good luck

Kommentera:

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