gbpusd

GBP Manufacturing Production Disappointment. Bollinger Band Break on GBPUSD.

  • Posted on: 10 July 2015
  • By: strategist
GBP Manufacturing Production Disappointment. Bollinger Band Break on GBPUSD.

On July 7, 2015 there was fundamental news concerning GBP. Manufacturing Production (m/m) for the British Economy came out rather disappointing at -0.6% downplaying the forecast of 0.1%. The pound already looked very bearish on the hourly chart.

When the one-hour bar closed following the bad news, it had broken the lower Bollinger Band. I executed a short with a take-profit slightly above the S1 pivot. Gained approximately 10 pips. The short was good for a lot more considering the negative miss of the economic data forecast but I had to be conservative.

Fading after Rejection Bar Formation on GBPUSD

  • Posted on: 21 June 2015
  • By: strategist
Fading after Rejection Bar Formation on GBPUSD

Three bars with huge bearish wicks appeared on June 19 2015 after a rally. This signified that the pair had hit a strong rejection/resistance area. I shorted aggressively for this being a very strong short signal. Took quick 6-7 pips but the trade was good for a lot more. However, there was definitely a cluster to the left (not shown on screenshot) and I had to be conservative with the T/P.

As always, trades like this one require a lot of experience and a good ECN broker.