GBPUSD - 2H - Gartley after Breakout in Breakoutdirection — British Pound/U.S. Dollar (FX:GBPUSD) / 2016-04-06 — SergeantPringles

TradingView

Go PRO

Long

British Pound/U.S. Dollar (FX:GBPUSD)

FX:GBPUSD British Pound/U.S. Dollar

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

Related Ideas

about GBPUSD

Set up is very good. But I see another 100 pips fall in sterling before a bounce.

waterman

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.

SergeantPringles

Thank you. My gartely starts at 1..3834 D at 1.3988 for long

waterman

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

How It Works

Features

For the WEB

Widgets

Community

Blog House Rules Moderators People Chat Chat History Press Referral Program Advertise

Tools and Features

GO PRO Stock Screener Forex Signal Finder Economic Calendar AppStore Stock Charting Library Trading Terminal Publishing & Social Tools Education

Support

Status Page Feature Request Help & Wiki FAQ Contacts Terms of Use Risk Warning Privacy Policy Cookies Policy

Trading Ideas

All Trend Analysis Harmonic Patterns Chart Patterns Indicators & Overlays Wave Analysis Gann Beyond Technical Analysis

Made with

From the creators of MultiCharts

Select market data provided by ICE Data services