Very nice MACD divergence forming in GBP pairs (daily chart). It might be a good idea to start scaling-in short orders in GBPUSD, GBPCHF and GBPCAD. Don’t over leverage. Less is more. GL and Happy Monday.

Yep. Almost all my trades are primarily based on MACD divergence/convergence setups. Purely technical.


This post has been edited by Alan Andrews: Dec 9 2019, 11:06 PM

Yep, comparing October’s peak and current high.

Just manually exited all GBP shorts:

GBPUSD (from 1.314x-9x) closed here at 1.3125.
GBPCHF (from 1.302x-4x) closed here at 1.2927.
GBPCAD (from 1.745x-7x) closed here 1.7368.

I was targeting the daily EMA20 for these pairs but I decided to close all my orders prematurely in anticipation of tomorrow’s GE (I prefer to avoid the fundamental chaos). GL and Happy Trading

Yeah, I’m glad I got out earlier. The GE will definitely cause volatility and Gbp pairs are known to be extra “dramatic” 😂

The daily charts (for GBPUSD and GBPCHF) are still “screaming” sell.. but I prefer to wait for a better entry (new high). If we get a nice spike tomorrow, I plan to scale-in tiny short orders.

I have a tiny short position (very small lot size) from 1.321x. Plan to scale-in if we get a spike later.

I just manually closed my short at 1.3120.
Hopefully we get a new high to short again..!!

Yes. My pending short orders (from 1.3330-1.3490) have been triggered. Now the waiting game starts.

Just manually closed all my sells (from 1.3330-1.3490) here at 1.3320. It is a very modest target but I was starting to feel a little uneasy so I decided to exit early (as usual 😂).
Good luck and happy weekend..!

Happy Holidays..!!

Yup, I agree that it was not the best entry but I chose to place my first pending short order there because it was the fibo 161.8 retracement level of the recent pullback (from 1.3228 to 1.3050).

The main rationale for shorting was the prominent divergence in the daily chart. Once I have determined this, I usually identify key fibo levels (in the smaller timeframe as well as the larger timeframe charts) to place short orders.

During the spike on Friday, GU actually hit many key fibo levels and stopped just a few pips shy of the 261.8 retracement level (1.3520) of the recent pullback (mentioned above).

All my short orders were between the 161.8 and 261.8 fibo retracement levels. Usually when there is prominent divergence in a bigger timeframe chart and we get a spike (new high), short orders placed in the region between these two fibo levels are “almost” fail safe.

More importantly, looking at the weekly chart, it was the first time we hit the fibo 61.8 retracement level (approx 1.3450) of the big fall (from 1.4378 to 1.1970). Hitting this key level for the first time and having a nice divergence made pullback very likely and further strengthened the rationale to short.

Btw, I am keeping an eye on this fibo 61.8 level. It may be a good opportunity to short if we get close to 1.3450 again. Failing to break and hold above it means that we will likely see fibo 50 once again (approx 1.3170). Cheers

Ps: Sorry for being so wordy 😂


This post has been edited by Alan Andrews: Dec 16 2019, 03:07 PM

Nice MACD convergence in GU hourly chart. Might be a good idea to scale-in long orders from here. GL and Happy Trading..!!

All my GBPUSD longs (from 1.299x-1.301x) have reached their target at 1.3070 (H1 EMA60). I can’t see a clear picture of where GU is heading from this point forward. I’ll be watching from the sidelines until the next good opportunity arises. Happy Trading.!!

I am long GU from 1.2938 (fibo 161.8) Nice MACD convergence in the hourly chart. I plan to scale in my orders if we get a further dip. GL and Happy Trading.!

Just closed all GU longs from 1.291x-3x here at 1.2954. I was initially targeting the H1 EMA60 (approx 1.2980) but it seems my impatience has got the better of me yet again. Merry Christmas.!



This post has been edited by Alan Andrews: Dec 24 2019, 11:01 PM

Good opportunity to go long on EurChf. Very nice MACD convergence in both the H4 as well as the weekly chart and we are approaching a strong demand zone. Imo, might be good idea to scale-in long positions with each dip..!! GL and Happy Trading...!! )