Hi Guyz, welcome to other episode of analysis for GBPUSD.
From our 1H chat, it is seen that as per DOW Theory, the market has broken the HL and it seems like market has entered into the bearish trend However, the catch is there is no divergence followed by the break of HL. It implies that market is taking a corrective move, which is 50 percent of FIB level. Thus, there is a formation of AB=CD harmonic pattern.
we plan our entry on the break of "B" point and projected TP in our case is "D" point.
stop loss is placed beneath HL as marked.
From our 1H chat, it is seen that as per DOW Theory, the market has broken the HL and it seems like market has entered into the bearish trend However, the catch is there is no divergence followed by the break of HL. It implies that market is taking a corrective move, which is 50 percent of FIB level. Thus, there is a formation of AB=CD harmonic pattern.
we plan our entry on the break of "B" point and projected TP in our case is "D" point.
stop loss is placed beneath HL as marked.
Trade active
Entry Point Triggered 
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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.