GBPUSD. Possible ABCD pattern
Possibly, there is an ABCD pattern forming on GBPUSD pair. In that case, GBPUSD is good to short on Monday opening or after a retrace, targeting 1.2695. SL: above 1.33
Notice also bearish divergence on the chart.
If the pattern is confirmed and the move completes as expected, I believe that will be an intermediate bottom for GBPUSD and expect a bounce to pre-Brexit levels.
Notice also bearish divergence on the chart.
If the pattern is confirmed and the move completes as expected, I believe that will be an intermediate bottom for GBPUSD and expect a bounce to pre-Brexit levels.
Comment:
If GBPUSD break 1.30500, it is good to add more shorts. For a moreless secure breakdown at least one 4H candle has to close below the level
Trade closed manually:
Pattern close to be invalidated. Closed all shorts manually
Please, follow your strategy! Always!
If there is no strategy that has proven itself successful, please do not trade with real money!
If there is no strategy that has proven itself successful, please do not trade with real money!
