Oct. 21st – GBPUSD

  • Posted by Houssine
  • Date October 21, 2022

We got our sell signals in P&F confirming the Fan Setup. I personally didn’t take the position because as I said yesterday, I lack confidence without a count. The reasons why the lack of clarity and indecisions from traders may be due to the political and economic turmoil that Britain is undergoing.
Having said that, the trade should be working and my instructions are the same: Do not use large stops, trade small, move the stops to breakeven fast and treat the position as a scalp.

NOTE: Please be aware of the bearish support line in grey. That should be the target for your short (assuming prices will continue lower)

Houssine

Prof. Aldo Lagrutta is an awarded Certified Financial Technician from the International Federation of Technical Analysts and holds several financial market designations, including the coveted Certified Elliott Wave Analyst.

He is a also a member of the Society of Technical Analysis, holds the CFT’e and is a recipient of the Bronwen Wood Prize bestowed by the Society of Technical Analysis in London.

Prof. Aldo Lagrutta grew up as a music child prodigy and became the youngest Professor to teach in several universities and conservatories around the world. He performed for 2 decades as a concert guitarist in Europe, Africa, North and South America.