GBPUSD ABCD + Trend Resistance

FX:GBPUSD   British Pound / U.S. Dollar
1075 17 32
A near perfect ABCD pattern forming on GU with it's "D" point exactly at my green channel resistance.

Entering with Sell Limit as shown.
Trade active: Entered with sell limit as shown.
Comment: Profit secured. SL moved to 1.4337
Agreed . thanks Kyle
Secured Profit on this one and was taken out in profit. If you check H4 do you think still good to short again.
QuileHills forexmech
I agree but I'm going to avoid entering on a Friday, especially this late in the trading day. I'll take close look Sunday and post if I see some potential still.
Astrologie Analyse
With you man
+1 Reply
A counter- trend trade. Do you use a trailing stop?
QuileHills rainbowolf
I often move my stop loss into profit at some point during the trade.
rainbowolf QuileHills
If you get a channel break, you could move it there.
QuileHills rainbowolf
My 22.8 fib (yellow/green border) will probably be my first point of securing profit.
rainbowolf QuileHills
Sounds good. Don't forget lots of data coming in tonight.
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