GBPUSD:Plans for potential 300 pips in the near future

Traders:

As chart shows, there is a really long time sideway movement for GBPUSD over FEB.

Seems like last Friday is the end of corrective box movement which helps us to see a clear descending channel here.

Since the channel is so wide, there will be a lot of scalp opportunities inside.

Now any retracement could be a good entry to short GP.

So far, the plan for short entry like this:
EN:1.247
SL:1.257
TP1:1.225
TP2:1.22
TP3:1.213

More accurate for the short trade pls check 15m chart for details later update below.

Less is more!

Trade active

Comment:

1.247

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35 pips

Trade closed manually

Comment:

1.24388

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26.1 pips.

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Comment:

GU can alwasy suprise us with at least 50 pips .

This time, GU refuse to drop down deeper.

Therefore, we follow it to stop the short trade with 26.1 pips in pocket.

and open a long trade wishing to touch fibo 1.618 1.253

Comment:

Comment:

the priciple of channel strategy is always follow the last one.

Trade active:

1.242

Comment:

Comment:

tgt1 1.25 for now
tgt2 1.256 tomorrow.

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we are in the sun-wave 2 , predicting b as the end of the corrective sun-wave 2.

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we are getting close to the final target.

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the final way of movement.
and prepare to close.

Trade closed: target reached

Comment:

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move exactly the way we expect .