Boon2
Short

GBPUSD H1 Bearish Running Flat.

OANDA:GBPUSD   British Pound / U.S. Dollar
D1 at this stage I'm still going with my running flat idea, (see the detail's and update's of that idea below) but it's to early to totally rule out the expanding flat as there's not enough data just yet.

H4 I see it as only one move down which put's us in a critical point as there is the potential of the bullish hidden divergence playing out.

H1 At this stage I'm looking at a larger correction before more downside as a running flat, but no one knows for sure where internal wave C will end so I'm not ruling out the expanding flat in X to complete the structure.

I'm overall bearish and will wait patiently for the internal wave C up to end and give a bearish setup before jumping into the sell. It's to early to give SL and TP at this stage as that will depend on where the internal C end's.

More experienced trader's can scalp the H1 internal C up on the lower time frames moving stop's to BE ASAP and taking profit's at the first sign's of a bearish setup.

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D1 idea Running flat for more downside supporting my bearish view so checkout the detail's and update's, Thank's.


Comment: So we got the running flat as expected, if you in the trade and can move to BE that would be the go as we have broken the low.
Here's a pic of the 1st TP, 2nd TP will be the D1 running flat fib.
Comment: If your not in the trade and mist yesterdays bear flag you may get another opportunity.
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