FX:GBPUSD   British Pound/U.S. Dollar
52 1 1
gbpusd             is currently trading @ 1.5537 and i saw a h&s bottom for the second time.

am buying the pair with stops @ 1.5400 - the low of the h&s - and my target would be @ around 1.5650-1.5700.

from that point i will decide up on the next movement.

i see three different possibilities for gbpusd             at the current time.

1. breaking the target area and moving up to around 1.5800

2. moving up to the target area and creating a 5th point then moving downward, then waiting for the h&S bottoms to break for a down movement

3. moving up to the target area then creating another low near the two h&S and completing a 5 movement correction.

the only trade i got right now is the buying with stop @ 1.5400
moesalama PRO
2 years ago
target reached, +175 pips
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