GBPUSD 60min Rising Wedge Breakdown Short

British Pound/U.S. DollarFXCM

Description

⋅ Jan 29, 2016 3:10 PM

GBPUSD on the 1hr has broken out of its Rising Wedge Pattern.. Look for a downside move back to structure and possibly further.

I'm short @ the Break and Close out of the wedge.

Stops are 1 ATR above the Breakdown bar

Targets are shown on the chart.. I only trade 2 targets.. But i wanted to give you guys options are where good targets can be.

Trade closed: stop reached

⋅ Feb 1, 2016 7:23 PM

Comments

walker.england

⋅ Jan 29, 2016 7:25 PM

Congratulations! Your chart has been selected to be highlighted as the post of the day! This is a great example of a price breakout from a wedge pattern.

PateSkpate

⋅ Feb 1, 2016 3:27 PM

Thank you sir!