lukeboland
Short

GBPUSD - Bearish HARMONIC PATTERNS

FX:GBPUSD   British Pound/U.S. Dollar
Hi there fellow Trader,

Are you a big bear or a little bear? Maybe you're not a bear at all, in which case this setup is not for you!

There are two bearish harmonic patterns setting up on GBPUSD             hourly timeframe. See below for my trade plan, complete with entry and exit prices.

Bearish Gartley (ORANGE):

Entry: 1.25450
Stop: 1.26050
Target 1: 1.24850
Target 2: 1.24470

Bearish Cypher (BLUE):

Entry: 1.26110
Stop: 1.26840
Target 1: 1.25270
Target 2: 1.25730

If you found this idea useful leave a like, it makes me happy! Also happy to answer any questions you may have on the setup and trading method.

Good trading,

Luke

Order cancelled: Price move lower below our A leg for both patterns, making them invalid now. No trade.
HI Luke, Thank you for posting your analysis. Do you think quid will shoot up now to 1.25 from the current level?
+1 Reply
lukeboland PRO RyanVarghese
Hi Ryan, I thought it would, Dollar strength across the board last night has held that off for the moment. I'm still looking and waiting for that move up to 1.26. @RyanVarghese,
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