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ollyt33
Feb 3, 2018 10:19 AM

GBPUSD Trend Continuation  Long

British Pound/U.S. DollarFXCM

Description

Looking out for 3 potential trend continuation entry reasons here. Currently at the 50 EMA which might act as support. Potential entry reasons here might be a bullish engulfing candle close above the EMA as seen at the Gartley B point. Failing this, the next entry reason would be the cypher D leg completion. Entry reasons could be a limit order at the D point or wait for further confirmation (i.e. engulfing candle). If this fails we have a Gartley pattern to fall back on. The D point completes in an area of daily support and we might be on the look out for other reasons to enter the trade here (engulfing candles, RSI divergence).

Trade closed: target reached

1st target reach at .382

Trade closed: stop reached

Break even
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