GBPUSD short to go long: GU to correct then go up more?

2018年10月7日

GU moved up with momentum late last week.
I am looking for a pullback and then continuation up.
Of course, Brexit news could stop any move instantly, and this up move was based mostly on talks with EU.

So I am watching the green zones for support to enter longs, and red zones for take profits.

Background
My GU adventure started with a search for top of uptrend around Sept 20th

Then came the big drop, which I caught most of. Then I started looking for bounces to short

After catching a few scalps and a couple big rides down, I was then waiting for a pull back again

During the pullback, I managed to get in a few short scalps but with tight stops

Then, just before NFP, the Pound started getting some good news and showing signs of bullishness so I threw some longs down

Which brings me to the current plan, expecting a wave 4 retrace to then long into a wave 5 which could easily become extended if Brexit sentiment remains positive

2018年10月8日

註釋

GU approaching first possible support. might bounce here

2018年10月8日

註釋

GU bulls tying to hold the first support. But the break below 1.618 extension was not a good sign for bulls

2018年10月8日

註釋

London Open pierced the support, as hinted by break of the 1.618 earlier

2018年10月8日

註釋

Well we got quite a retrace, due to Brexit news.
Price broke through both support zones, and is close to invading wave 1 territory.
ie: uptrend might be done. Evaluating now, and will post an updated idea.