GBPUSD - 2H - Gartley after Breakout in Breakoutdirection

FX:GBPUSD   British Pound / U.S. Dollar
69 4
We saw a breakout from the solid blue lined trendchannel. and now price is consolidating in that area above it. it will most likly only be an ABC correction here - so only more more impulse up. but that impulse can very well bring us all the way up into the 1.48-50 area. simple trade with great risk reward .

Trade active
Set up is very good. But I see another 100 pips fall in sterling before a bounce.
yeah possible i saw that too. it might even be more than that(maybe even 200) following the symmetry of the possible abc. but i would had to widen my stop too much to account for it and it wouldve not been a gartley any more then. so this stop is based on the gartley. if we violate it, i still might look for a reentry further below.
waterman SergeantPringles
Thank you. My gartely starts at 1..3834 D at 1.3988 for long
yup. thats the bigger one and a possible garltey too. tho the fact that there is a gartley doesnt mean we will get down there at this point. thats not the causality im working with. for me its just: "IF we get down there THEN we will likly go up from there" - but not "BECAUSE have a gartley we WILL get down there"
i just liked mine alot based on horizontal structure and i think it provides a very good oppurtunity.
but again. i will also trade the bigger one. but most likly not at 3988. thats a bit early for me. i will use the 127 BC projection inside the bigger one. which would be 3947ish

good luck regardless
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Send feedback Ideas Published Followers Following Private Messages Chat Sign Out