GBP/USD, EUR/USD: Short Musings by Dane Williams

Dane Williams @danewilliamsau
In a strong down trend? Then sell rallies.

Pretty straight forward concept?

guhoursetup2
Posted this GBP/USD short setup last night on Twitter. It’s with the overall trend which lately, I have been fighting too much.

Price failed to break out of short term resistance on it’s Asian open marked with the first ‘x’ and was again pushing out of a new short term consolidation without momentum when I got short at ‘x’ number two.

I am looking at this as a second chance to get short as I missed the first entry last week.

euhoursetup2
An alternate to the above play is to short EUR/USD. This trending move is on the back of USD strength as much as anything so the correlation is there.

Pretty much a carbon copy of the first setup where price has failed to push up against the trend into resistance. The main argument to take EUR/USD is that yesterday, price was sold hard off that four hour trend line posted on Twitter.

Stops at new weekly highs. Take your pick…

Dane Williams – @danewilliamsau

 

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