channeltrader
Long

GBPUSD Long (Not a trade idea)

FX:GBPUSD   BRITISH POUND / U.S. DOLLAR
251 3 4
Saw quite a few calls for a H4 Head&Shoulders trade. But channels have taken a different turn. Even I had to get out of my short positions quickly after the new channel emerged. Targeting 1.70850 from a retest of 1.70271.

Risk to the idea is the 170505 level which must be cleared and successfully retested.
Yes, it's bullish and a very nice study.
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channeltrader ForceFollower
Yea but this is not what I expected... trying to build rationality into an irrational market!!!
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ForceFollower channeltrader
Nothing wrong with what happened. There's probably a new channel going to develop to the upside.
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