I am totally enjoying the long on this correction however, I am looking at the short which happens to be around 75% of the move down and is also major line for me.
I am trying something relatively new to my markups. I didn't bother showing exactly how I believe price will break and retest like I usually would've in the past. My target from here is 200pips up with a minimum of 50pips.
If you are looking for a few pips, this isn't too bad. It's close to an AQZ Zone (shout out to AQZ's Aqua Man) and the Stoch is in a nice area.
I see a possible continuation after that bearish flag if the break and retest is valid and holds.
Seems like GBPUSD is pretty stubborn. A higher time frame does show a correction and now we have this flag.
Price is in the area that I am expecting a long to happen however, with the way price is looking right now, I suspect a break, retest and continuation in this pattern created.
Depending on the market and your pip diet, I don't see why you cannot achieve 20-40pips. I believe that a HaS has been formed, we did get out 50% back twice from the large bullish candle due to news. I see the trendline being broken. Keeping an eye out on the bullish engulfing.
I believe you should be able to catch at least 400pips (which some of you may consider as 40pips) off of this trade.
Looks like we have a long way down, at least that how it looks. Measured move brought price right to the zone perfectly. Looking at the little retest and the continuation to the downside.
After looking at GA, I thought I would look at GN. I believe there is still a few more pips left in GN to the downside.
I decided to post this trade late. I have entries below 1302. Let's take a quick entry here if you missed out. I believe we should see at least 1310 and even a push to 1318.