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Yes, Give it to me

I am Looking to Short GBP.. 

 November 19, 2014

By  Rayner

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In terms of relative strength, GBPUSD is one of the weaker currencies recently. Thus I’m favoring shorts on this pair.

On daily we can see price is in a downtrend with clear lower highs and lower lows established.

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On 4 hour we see price respecting the 50 EMA here.

Traders can look to sell if price retrace towards 50 EMA or look to short a breakout to the downside.

Good Trading!

 

 

  • Simple Concept… Trade with the Trend… i like your video on the USDJPY…. i have seen many SELL call for USDJPY by so many signal providers…. the brokers must be very happy working with those signal providers.. Thanks and Good Day.

  • Hi Rayner, great blog you have! Since you use 2 ATR as your stoploss – question: is it 2 ATR for the period you take the trade? E.g. 2 ATR on the 4hr chart for the cable. Thanks.

  • Thanks for the heads up, already shorted after your post, holding one position at the moment. When you get time please write something about how to manage this position, where you think I can scale in another position and how to move SL.

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