GBPUSD (H4): Medium Term Long Call
Updated
GBPUSD Timeframe: 1D
Direction: Long
Confluences for Trade:
- Strong bullish candles setup
- Broke out of Parallel Channel
- Start of turn from previous mentioned Gartley Pattern
- Breaking a previous Resistance Trendline (formed on 20 Sept 2018)
- Fundamentally, market priced in continuous bad news for Brexit. The chance for positive news from Brexit is higher and it improves the RR for us. Not only that, EU is well-known for last minute deals that will help support our 'not so bad Brexit' story.
Previously, we suggested an entry on the Gartley Pattern which have been prematurely entered but the previous setup is still valid and further confirmed now.
Suggested Trade:
Entry @ Area of Interest 1.2830 - 1.2930
SL: 1.2749 (To sustain volatility, you may want to set it below the recent lows)
TP: 1.3111
RR: Approx. 2.58 (Depending on Entry Level)
May the pips move in our favor! Good luck! :D
*This trade suggestion is provided on an advisory basis. Any trade decisions made based on this suggestion is a personal decision and we are not responsible for any losses derived from it.
Note
Quick gain for this trade. :DLock in half your profits and move your SL to BE.
Run the remaining position totally risk-free.
Trade closed: target reached
Another good trade achieved. :DLet's find the next good trade!!
Disclaimer: The personal opinion above does not constitute as an investment advice. Any decisions taken based on the above opinion is purely at your own risks. DYOR.
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