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douglasaa

BULLISH PENNANT FORMING ON GBPUSD - LONG

Long
British Pound / U.S. Dollar (FX:GBPUSD)  
douglasaa Updated   
FX:GBPUSD   British Pound / U.S. Dollar
GBPUSD Bullish Pennant
4
0
gbpusd bullishpennant
Bullish pennant forming on GBPUSD. Strong resistance at 1.277, look for entries at around 1.278 and then set a trailing stop to break even. Initial SL @ 1.27400. If it breaks the resistance and holds, it should function as a strong support. TP could easily reach 1.28138 and above. Candle needs to close above the upper trendline for this setup to be valid.

Happy Trading.
Comment:
snapshot

Structure still forming and still valid
Comment:
snapshot

Might be able to go on a stop hunt above 1.28 ;)
Comment:
snapshot

Hopefully this closes above the trendline
Trade active:
snapshot

SL @ 1.27200

TP 1.28+
Comment:
Up and away we go!
Trade closed: target reached
Comment:
TP of 1.27801 was hit.
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