TimStuyts
Long

GBPUSD, correction THEN impulse higher

FX:GBPUSD   British Pound/U.S. Dollar
480 5 19
4 months ago
I like to see a third leg lower for GBPUSD             on the 1 hour time frame and then look for a buy towards 1.36 and 1.39 respectively.
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4 months ago
Comment:
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Moving as expected, watch for break, stop loss should be below wave 2.
4 months ago
Comment: Place stop at break even if you entered as described. I target 1.36 for risk/reward of 12/1 with 2% risk. Stop is at break even and I will be looking to add after a consolidation. (this was we can build this position to target 50% return on capital) The levels are not written in stone so we adjust when needed but this was my original plan and so far so good.
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ruthrajamanie
4 months ago
good work!
+1 Reply
ruthrajamanie
4 months ago
is it possible that given the current conditions it is breaking downside?
Reply
TimStuyts ruthrajamanie
4 months ago
I'm not sure what consolidation you are referring to. But in general it is certainly possible, however I'm only looking for buy trades at the moment. Only if we see a bearish acceleration followed by a consolidation I will sell the continuation.
Reply
ruthrajamanie TimStuyts
4 months ago
my bad. i mixed it up with another pair. Good call and thanks to you i caught this from the bottom
Reply
TimStuyts ruthrajamanie
4 months ago
Not a problem, let me know if you need anything!
Reply
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