GBPUSD Trade Idea's

[N-Shop]

What pattern is GU forming here?

 

[bigbax699]

Good morning all, hope everyone is having a good weekend. Was just looking over the charts so thought I would update on the GU buy position we took. If you follow my YT channel you will of been updated earlier in the week. But we have since had some nice movement in our favor. AS you can see we are deep into profits on this trade. Currently sitting at 1067 pips in profit for over 1:3 R:R. We have broken above trends and trading above the moving average now which spells good things to come hopefully. I have included the DXY chart to show the dollar's bearish trend now. Looks like it may continue into the near future. Lock in profits and make the trade secure and enjoy the ride to come. GLIYF

 

[Roman011]

Never seen a pattern like this I guess every day we learn

 

[Nasabayan]

I reckon the current ascending GBP/USD pattern is either finished, or will be finished soon. After that we will see the continuation of the global bear trend with unpredictable results for the British pound.

 

[Doomsinger]

There are definitely some interesting waves on the final chart there. I think it is a trait of a disciplined trait that you lock in your profits and do not let the market decide the faith of your P&L blindly.
Sure, you can trust your systems and models, and you may have a very high conviction in the patterns you see, but no one can never know for sure. It is not a mistake to taking profits whenever you are comfortable with the level you are at, and if you want, you can reopen the trade with new parameters and keep riding the waves, or downshift to a smaller notional amount and leave it there.