DavoodWadi
Long

Trend Continuation Long Setup in GBPUSD

FX:GBPUSD   British Pound/U.S. Dollar
538 9 10
We are at previous support which coincidences with 50% retracement of the last swing.

I'm aiming for a retest of the previous top for the least.

Related Ideas

Akil_Stokes TOP
2 years ago
Looks like a good opportunity
+1 Reply
MARI Akil_Stokes
2 years ago
Hi Akil, I am on the other side of the trade... :o) I see the double top with broken downside, waiting for the fib 0.618 and signal to sell. Also, the daily seems a bit exhausted and ready to retrace for a while as a confirmation of my decision. Mari
+1 Reply
Akil_Stokes TOP MARI
2 years ago
That's the beauty of trading, there's always a buyer and a seller.
+1 Reply
IvanLabrie PRO
2 years ago
Looks like a triangle before more downside? (minimal)
I still think there's a pending 5th wave here.
+1 Reply
DavoodWadi IvanLabrie
2 years ago
Hi Ivan,

Thanks for your comment.
Just one note:
An hour after my idea, the candle faked out to the bottom. Whatever it is forming right now we can't name it a Triangle (because of descending waves).
Could be an ending diagonal if we see more downside.
Reply
IvanLabrie PRO DavoodWadi
2 years ago
I'll post my count in a minute. I think it's a complex way structure pending completion. We won't see impulsive moves in the big picture until there is a decisive grexit / euro summit conclusion. Not using direction from it just timing momentum for our trades.
+1 Reply
IvanLabrie PRO IvanLabrie
2 years ago
GBPUSD: Long term view and forecast


snapshot
+1 Reply
chessnut
2 years ago
I think the idea is still right, buy the breakout of the upper trendline just formed with same risk method.
+1 Reply
DrAMohammadi
2 years ago
May bee Short if....
Reply
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