SmartTradingFX
Short

A short opportunity with a potential 3:1 risk reward

FX:GBPUSD   British Pound/U.S. Dollar
1552 29 24
Analysis on chart!

Coming up to retest structure for the fourth time, ABCD Pattern completion, Two fib extensions, Overbought on both 1H and 4H Time frames...

Potential risk reward of 3:1 back down to dynamic support...

Any likes, shares and or constructive feedback is welcome!
korhancakir
a year ago
nice analysis...
+2 Reply
SmartTradingFX korhancakir
a year ago
Thank you sir! Any trades on your radar today!?
Reply
korhancakir SmartTradingFX
a year ago
yes i took this one > eurjpy - short
Reply
korhancakir korhancakir
a year ago
https://www.tradingview.com/chart/LfPsnwnF/
Reply
korhancakir korhancakir
a year ago
snapshot
Reply
SmartTradingFX korhancakir
a year ago
I dont trade patterns so i cant comment on the chart above! Akil is the man for patterns!
Reply
SmartTradingFX korhancakir
a year ago
I had my eye on that pair but i dont believe it came into the zone i needed it too so no trade for me! Good luck!
Reply
Nice one
+2 Reply
SmartTradingFX Akil_Stokes
a year ago
Thank you Akil, your support means alot!
Reply
prashantfx
a year ago
Thnx akil sir
Reply
Marvin
a year ago
Yep I agree. Waiting for a bit higher:
GBPUSD Bearish Bat
+1 Reply
SmartTradingFX Marvin
a year ago
Good work! Me too, the higher we can get into the zone the less i have to risk which is always a nice thing! Good luck!
Reply
Marvin SmartTradingFX
a year ago
You too mate. You're now being stalked :)
+1 Reply
sumathidenward Marvin
a year ago
what will be the target on the this gartley pattern
Reply
Marvin sumathidenward
a year ago
If you mean my pattern it's a bat. The answer is subjective. You can target the B point or the 38.2 or 61.8 fibs. Or a 2:1 risk/reward. It's up to you.
Reply
agungmahendra
a year ago
RIP... market breakout sir...
Reply
prashantfx agungmahendra
a year ago
yeah stoploss triggred
Reply
Marvin agungmahendra
a year ago
Or is it? Not yet anyway.
Reply
SmartTradingFX Marvin
a year ago
Currently short, Entry was low of bearish engulfing candle.
Reply
Marvin SmartTradingFX
a year ago
on the H1? Good one. I was very lucky. Missed my stop by 2 pips!!
+1 Reply
SmartTradingFX Marvin
a year ago
Yes majority of my trade enrties i take on the 1H... So your still in then?
Reply
Marvin SmartTradingFX
a year ago
No I'm out at the 61.8 retrace of my CD leg
Reply
SmartTradingFX Marvin
a year ago
What price did you enter?
Reply
Marvin SmartTradingFX
a year ago
1.5660
Reply
SmartTradingFX Marvin
a year ago
Thats higher than where your pattern completes tho, right?
Reply
Marvin SmartTradingFX
a year ago
Yeah it is for the X-D extension but the PRZ (price reversal zone) also incorporates 1.618-2.618 B-C extension so it's a zone rather than a specific point, at least that's how I trade it. On this one the price action was strong so I waited with my entry
+1 Reply
Marvin Marvin
a year ago
Sorry not X-D, I meant X-A extension.
Reply
AlexD_Trading
a year ago
Nice analysis mate! In daily time frame also we have pin bar at the zone!

Short GBPUSD. Pin bar at resistance!


Good luck!!
+1 Reply
SmartTradingFX AlexD_Trading
a year ago
Thank you! We do have a pin bar good spot!
Reply
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