GBP/USD Bullish Shark Pattern
At last a viable long opportunity for GBP/USD, however,
a little patience is still required. GBP/USD formed a nice
double bottom on the daily time frame but wait for price to
close above 1.3869, which is a 0.707 retracement of XA and
the 0.236 retracement of CD, thus a Fibo confluence zone.
Keep in mind that there will be GBP related economic data
released later today, which will affect volatility either
before and/ or during the time of release.
Trade Setup Long (RvR ratio 2:57 with ATR 2)
Entry: Close above 1.3869
S/L ATR 1: 1.3777 (current ATR 0.0099)
S/L ATR 2: 1.3671
T/P 1: 1.3966
T/P 2: 1.4123
T/P 3: 1.4235
T/P 4: 1.4377
Adjust your stop/loss after scaling out profits as well as
adjusting your stop/loss to your risk management profile.
Happy trading
At last a viable long opportunity for GBP/USD, however,
a little patience is still required. GBP/USD formed a nice
double bottom on the daily time frame but wait for price to
close above 1.3869, which is a 0.707 retracement of XA and
the 0.236 retracement of CD, thus a Fibo confluence zone.
Keep in mind that there will be GBP related economic data
released later today, which will affect volatility either
before and/ or during the time of release.
Trade Setup Long (RvR ratio 2:57 with ATR 2)
Entry: Close above 1.3869
S/L ATR 1: 1.3777 (current ATR 0.0099)
S/L ATR 2: 1.3671
T/P 1: 1.3966
T/P 2: 1.4123
T/P 3: 1.4235
T/P 4: 1.4377
Adjust your stop/loss after scaling out profits as well as
adjusting your stop/loss to your risk management profile.
Happy trading