GBPUSD-Weekly Market Analysis-Dec21,Wk3

Undeniable GBPUSD is on a Bearish run. However, there is a chance that the counter-trend traders may push, once the market break and close above the Buy Zone(blue) especially on the Daily Chart, the Blue wins.

For Harmonic Patterns traders or trend traders, there is an unbroken Bearish Gartley Pattern on the 1-hourly chart that is ready to be traded once the market open.

The only downside of the setup is that Point C touches Point A. We can argue that Point A has an ultra-long candlewick, but rules are rules

Trade active:

Trade Engaged

Trade active:

SLE: 1.3249(+17)
Target1 Attained(+40)

Trade closed: stop reached:

Stop Out at 1.3249(+17)​

Trade active:

Target1 HIT again: 1.3226(+33)
Type2 Bearish Gartley
Stops at entry again. Loving it.

Trade closed: target reached:

Target 1 Attained: 1.3226(+33)0.8:1
Target 2 Attained: 1.3203(+63)1.5:1​
Total Profits = 33+63=96pips(960USD/lot)

Tada... Double win. Same analysis 2X the profit with the much lower risk