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glennmercer

GBPUSD Long: Potential Wedge Breakout + Cypher

Long
British Pound / U.S. Dollar (FX:GBPUSD)  
glennmercer Updated   
FX:GBPUSD   British Pound / U.S. Dollar
GBPUSD glennmercer gmercerfx Cypher Wedge Falling Wedge cable
16
2
gbpusd glennmercer gmercerfx cypherpattern wedgepattern fallingwedge cable
Hey traders! The momentum is down on this pair, but it is slowing as of this morning. If bullish momentum can build to power through the short term resistance and top of the falling wedge I am a buyer toward the weekly pivot and possibly beyond. Updates to come, cheers!
Trade active:
This one is active, looking for a powerful bullish impulse to follow the breakout. If we see a retrace below the trendline, I'll be targeting a break-even exit.
snapshot
Trade closed: target reached:
Target at 2:1 has been achieved. HOWEVER, I'm letting this one ride out using the PSAR. Currentlyl we're sitting at positive 100 pips. Cheers!
snapshot

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