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GBPUSD_ABCD_Pattern_Short-tearm

FX:GBPUSD   BRITISH POUND / U.S. DOLLAR
g_u
77 0 0
g_u
GBPUSD_Both_Sell_and_Long_from 1/4/2015-3/04/2015

An interesting pattern has been formed by GBPUSD             for H1_short term forecast. We have herewith a symmetry triangle and some projected trend lines in both directions, in which they are confirmed with the price action up to now.

According to our chart analysis some scenarios for GBPUSD             till 3/04/2015 can be occurred as following,whereat cable will run according to the ABCD pattern under the condition that point B will be reached in the next 4 hours, then a bearish scenario will be occurred to reach the level of point C; in this light we would like to say that in the next 4 hours the markets will prepare for a worst data release from England but in case the data would be better than expected and lately in the US session (ADP Non-Farm Employment Change) releasing data are not really impressive , then from point C the price action will be pulled up to reach the level of D point. At point D it is also the time to prepare for NFP on Friday, so we can sell at that point D again and take profit@1.48667..

Shortly:

1) Sell@B
1.1) t/p@ around C
2) Buy@C
2.2) t/p@ around D

3) Sell@D
3.1) t/p@ around 1.48667

Stop lose for all positions at the last highs/lows of the peak and bottom (very tight s/l)


All postions can be opened, if the price actions are confirmed with the depicted details.

Trade well!

Makkaba team
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