British Pound / U.S. DollarUpdated Gartley Bullish GBPUSD 4H
This harmonic pattern has already hit the PRZ (Potential Reversal Zone) and is showing signs of an up trend.
The up trend signs are not as strong as we would like so I would consider placing an alarm in case the currency retests the PRZ.
TP1 and TP2 are 38.2 and 68.1 Fibo
SL for this trade is just bellow the PRZ
Personally I would not enter the trade unless there is a retest of the PRZ or have stronger signs of an upward movement, preferably at the opening of the next 1-2 candlesticks,while still maintaining a reasonable risk reward ratio.
For the time being we see how this plays out.
The up trend signs are not as strong as we would like so I would consider placing an alarm in case the currency retests the PRZ.
TP1 and TP2 are 38.2 and 68.1 Fibo
SL for this trade is just bellow the PRZ
Personally I would not enter the trade unless there is a retest of the PRZ or have stronger signs of an upward movement, preferably at the opening of the next 1-2 candlesticks,while still maintaining a reasonable risk reward ratio.
For the time being we see how this plays out.
Trade active
Trade entered at 1.42598Note
TP 1 is 1.43691. And TP2 1.44400 I made a small mistake on the graph above.Trade closed: target reached
TP1 was hit for a nice 100 pips. SL was moved. But im thinking to remove TP2 overall, I do not particularly like the way the trade might react. So I also closed TP2 for another 100 pips, totaling 200 pips. Not bad at all!!!
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