Bullish pennant forming on GBPUSD. Strong resistance at 1.277, look for entries at around 1.278 and then set a trailing stop to break even. Initial SL @ 1.27400. If it breaks the resistance and holds, it should function as a strong support. TP could easily reach 1.28138 and above. Candle needs to close above the upper trendline for this setup to be valid.
Happy Trading.
Happy Trading.
Note
Structure still forming and still valid
Note
Might be able to go on a stop hunt above 1.28 ;)
Note
Hopefully this closes above the trendline
Trade active
SL @ 1.27200
TP 1.28+
Note
Up and away we go!Trade closed: target reached
Note
TP of 1.27801 was hit.
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.
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.