GBP_USD: Reversal Pattern is Forming (M)
Strong resistance will dump and sell the pound, with the formation of M is now on the way.
Setup the sell-limit at the resistance level, with 3.8 risk reward ratio, just be careful of setting the stop loss otherwise no stop loss.
WIth targets between 0.5 and 0.6 fib retracement creating the B leg of the prospect ABC or ABCE pattern.
Setup the sell-limit at the resistance level, with 3.8 risk reward ratio, just be careful of setting the stop loss otherwise no stop loss.
WIth targets between 0.5 and 0.6 fib retracement creating the B leg of the prospect ABC or ABCE pattern.
Note
GBPUSD Daily Chart could result a bullish pin bar at the resistance around 1.28 by the end of the day. If that happens strong sell at 1.28 at the top with target take profit set at 1.2486
Trade active
Sell activated manually.Order cancelled
Cancelled trade, I guess this is already moving up. Sorry just observe next week if what is the gap situation on this
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.