GBP/USD 4hr Setup in The Daily Time Frame

[rolston]

fist rist at

5820

second rist at

5850

 

[rolston]

targus if you are still holding take some profit at rist levels

 

[rolston]

support level or take profit level pullback level

1HR RIST AT 5820

SUPPORT
5 min at 5802

15 min at 5796

30 min at 5782

 

[targus+]

Hi Rolston
No I pulled out longs. Waiting to see now, wait for your call to get back in long/short.

 

[targus+]

Rolston
If she pulls back at 5820 will you trade it, or would you wait for the long trigger at say 5752? Are we still in a long term uptrend on the daily/weekly, what is the main trend?

 

[targus+]

Immediate price action says def up. I would rather wait until she gets to the upper extreme and then maybe short, what do you think Rolston.

 

[rolston]

hit upper target

 

[rolston]

targus did you go short

 

[targus+]

targus did you go short

Yes I'm short till when though?

 

[targus+]

Maybe till 5713?

 

[rolston]

most have stops in place

 

[rolston]

short target

5684

 

[rolston]

1hr support 5788

 

[targus+]

short target

5684

Thanks Rolston,
My low ATRs are l2 @ 5713 and l1 @ 5684. I prefer the shorts at the moment because with China in focus again circulating a rate hike etc.

 

[rolston]

need to make higher low

 

[targus+]

New ATRs l2 @ 5744 and l1 @5716

 

[targus+]

Long trigger lurking at 5752

 

[targus+]

Your short target is very accurate, rolston, at 5684. To help me with support/rest. I have again started to use a donchian channel and on the 4hr the bottom low fig is 1.5668.
How are you able to pinpoint so close?

 

[rolston]

targus

are you still short

 

[targus+]

targus

are you still short

Still short.