AB=CD, Fib extension, structure

FX:GBPUSD   British Pound/U.S. Dollar
62 2 0
Looking to go long soon as we have a potential AB=CD move, Fib extension and minor structure level culminating at a similar level.

Think we could fall a little further before resuming the trend, possibly to the 50% Fib retracement of the current move?
My trade ideas are just that - ideas. Nobody can tell you what will happen in the markets. I cannot/will not be held responsible/accountable for anything anyone does with my trade ideas. Always trade to your rules - if in doubt, stay well out! Good luck!
a year ago
do you not want to get long at C, and ride it up to D? unfortunately time has passed for that entry. but yes it it retraces back down to 1.5145. Also depends how long you intend to hold (time) and exit zone (price). Two items which are rarely ever mentioned in forecasts here on TV.
spyro85 B120626
a year ago
Yes I agree, long at C. Sorry I didn't make that clear!

Very good points. Hold time - I think as long as it takes. Providing the charts don't give any bearish signals which could scare me out of the trade!
Exit zone - Around 1.527?
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