GBPUSD: Long Bias

Gonna risk some pips here ~
SL will move to breakeven when price reached 1.416 / 1.419

R:R 13.69 (slightly greedy but I personally think its achievable)

DISCLAIMER:
I'm only providing my own thought toward the market but not making any trade call.

Hit the like button if you agree with my idea. As it will give me confidence to continue posting my idea. And feel free to comment in a respectful manner if you have a different view on it. Appreciate :)

Comment:

Sorry ~ rushing to bed last night ... therefore didn't explain much on this
Above Bearish butterfly drawn based on Daily chart

There is 1 level I will be concern (around 1.466) because it can be the completion of Bearish butterfly "Fibo BC leg 1.618 retracement". Therefore I will do a tight SL on that level in case the market turnover from that point onwards. Besides, that level is also a resistance level which hold up nicely last time. Of course the above chart I drawn is based on best scenario which the price can go up to 1.49 which is the BC leg 2.24 retracement. The completion of Bearish butterfly can be anyway around 1.466 to 1.49. Therefore trade might be closed anytime when I found the market show a reversal sign.

Comment:

SL moved to breakeven ... Preserve your capital is always the "must" thing to do in trading :)
Good Luck :)

Comment:

SL moved to 1.439 as the chart is showing some reversal sign.

Trade closed: stop reached:

Profit 307 pips. Next !!! :)

Comment:

Entered long again for GU ~
1) Fibo 0.618 retracement
2) Support zone (although it broken but look like it's a false break)
Continue heading toward D leg ... GO !!!!
Good luck

Comment:

Bullish Bat
Expecting a pull back at 1.4224 (completion of bullish bat and also a support zone)

Trade closed manually:

Trade closed due to breakout of triangle and also strong upside tail in 1 hour & 4 hours candle showing strong selling pressure.
Anyway short trade will not be taken as daily Bearish butterfly rule not violated yet. therefore still expecting a upside move.
1.4224 will be my long trade entry / 1.4165 depending on where market showing reversal sign.
Close long position with a profit of 260+ pips. Next !!!

Trade active:

Entered long at 1.42170

Comment:

spotted another harmonic pattern on 4 hours chart. Another confirmation of upside movement for GU. The D leg of this pattern coincide exactly on the resistance zone. Potential area to close long position, but still need to depends on how the market react ...
Good luck :)

Trade closed: stop reached:

lose 97 pips :)
Next !!!