GBPUSD, 29/10/15 @13:25 GMT

SELL@1.5242 SL@1.5289 TP@1.5128

Bollinger Bands are in CONTRACTION PHASE on H1 Time-Frame. We expect to see a BOTTLENECK and then a FUNNEL. Price may go up to 1.5308 making a statistical validation up to the Median BBAND on H4 TF but this is not the main move, so WAIT for the UPward Move to finish.

Before you Enter SHORT (SELL) from H1 TF, make sure that :

1. A Bearish H1 Candlestick closes below the Lower BBAND
2. Both Tenkan Sen (ICHIMOKU Red Line) and Kijun Sen (ICHIMOKU Blue Line) are sloping DOWNwards while price is moving below both.
3. Chikou Span (ICHIMOKU Green Line moving in the past) is moving below past price action going straight DOWN
4. Median BBAND is curved DOWNwards forming a KNEE.
5. Upper/Lower BBANDS Edges are turned outwards forming a FUNNEL
6. Leading KUMO Upper/Lower Edges slope Downwards
7. Stochastics go DOWN.

STAY IN while H1 Candlesticks close below Tenkan Sen.

EXIT when a Bullish H1 Candlestick closes above Tenkan Sen.

TRAIL your SL 15pips above each new Kijun Sen Plateau.

Happy pips!

Sofia

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