On the higher time frame charts, GBP looks like a short. However, I don't see it going down without first taking out all the premature shorts with their Stops behind the pivot at 1.3700. This is a trade idea looking to take a slice of that upside action.
I find it is often prudent to take profits on these Harmonic Gartley style trades around the 78.6% trend based ext level, then buy back in on the 50% retrace level with either all, or a portion of ur original position.
I find it is often prudent to take profits on these Harmonic Gartley style trades around the 78.6% trend based ext level, then buy back in on the 50% retrace level with either all, or a portion of ur original position.
Trade closed manually:
Scratched for small profit. The volatility going through UK econs data has made a bit of a mess of the charts and will take a while to sort itself out.