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Timcqueen

Double Bottom OPP

Long
British Pound / U.S. Dollar (FX:GBPUSD)  
Timcqueen Updated   
FX:GBPUSD   British Pound / U.S. Dollar
Chart Patterns Harmonic Patterns Trend Analysis Double Bottom 618 Fibonacci Retracement Bullish Divergence Bullish Patterns
4
0
chartpattern harmonicpatterns trendanalysis doublebottom 618fibonacciretracement bullishdivergence bullish
This Double Bottom is close to the fib retracement of 61.8 of the most recent impulse leg. Plus, there is some divergence in the RSI that tells me that momentum may be shifting to the upside.
Comment:
First target reached. Half of the position is now closed. Stop loss has been moved to stop profit several pips above entry. If this price reaches second target or stops out, the trade ends in success.
Comment:
Second target reached. This trade is a complete success.
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