- Target: Extended towards Bullish Butterfly Pattern completion zone - Trade Management: Utilizing upsize trade strategy
Analysis: While many analysts see consolidation, I've identified a potential Bearish Flag trading setup on GBPUSD. The series of lower highs on the 4-hourly chart indicates a possible continuation of the bearish trend. I'm waiting for a retest on the trendline to execute a short position on GBPUSD. Using my trade management system, I plan to implement an upsize trade strategy to extend the target towards the completion zone of the Bullish Butterfly Pattern.
Trade Management:
- Upsize Trades: Leveraging trade management system for increased position size.
- Entry: Selling at the retest of the trendline.
- Targets: Extending targets towards the completion zone of the Bullish Butterfly Pattern.
Risk Management:
- Prioritize risk management to safeguard capital.
- Adjust position sizes according to risk tolerance and trading strategy.
Your Thoughts? Do you also see potential for a Bearish Flag setup on GBPUSD? Share your insights and trading strategies in the comments below!
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