Long GBPUSD if i) 1.27549 is not breached by today and ii) GBPUSD trades above the blue trendline.
T1: 1.28291
T2: 1.2946 (only if 1.2903 is breached with strength)
T3: 1.2988
SL: 1.2749
The trendlines that I have drawn have been in play and will continue to stay in play until GBPUSD trades out of it. This is also a reason why my updates are few and far in between. No point putting the same chart over and over again. Trendlines drawn correctly serve as powerful roadmaps for trading. You know your trendlines are good when it "obeys" and "behaves" well on the lines drawn. Have a look at the older charts I posted and click on the "triangle" icon, you'd be surprised to see how the trendlines serve as a roadmap for the instrument being traded.
The longer term trend is clear, up.
T1: 1.28291
T2: 1.2946 (only if 1.2903 is breached with strength)
T3: 1.2988
SL: 1.2749
The trendlines that I have drawn have been in play and will continue to stay in play until GBPUSD trades out of it. This is also a reason why my updates are few and far in between. No point putting the same chart over and over again. Trendlines drawn correctly serve as powerful roadmaps for trading. You know your trendlines are good when it "obeys" and "behaves" well on the lines drawn. Have a look at the older charts I posted and click on the "triangle" icon, you'd be surprised to see how the trendlines serve as a roadmap for the instrument being traded.
The longer term trend is clear, up.
Comment:
T1 hit. Closed 25% of trade.
Comment:
Taking another 25% off on hitting a high of 1.2815+.
Comment:
1.2903 breached. Looking for T2 at 1.2946. Stop loss raised to 1.2830. Just sit back and relax, whatever happens, this trade is a winner.
Comment:
T2 hit. Closed another 25%. Stop loss placed as 10 pip trailing stop loss.
Trade closed: target reached