Akkard
Long

gbpusd mid term setup

FX:GBPUSD   British Pound/U.S. Dollar
Hello everyone.
II will be posting here my ideas so i can keep track of them.
Why i dont publish in private? Because i am open to any suggestion, so if anyone has something to tell me i'll be glad to read what he or she has to tell me!

This is another setup i will have in mind, in this case gbpusd             is showing a corrective phase that looks like a simple abc correction (just to clarify the idea that another move up is needed, for the moment im saying a simple ABC, but in the future it could develop as something more complex) so if it is the case, should be a good idea to buy and catch wave C. I will be looking this in D1 chart, to see if a breakout occurs, in that case i'll buy. The first target could be the end of wave A, and a second target could be where wave C equals wave A, and top of the channel.

Thank you for reading.
Have a nice day !
Comment:
snapshot
Because of the recent drop in gbpusd, it might be a good idea to buy now, and have a tight stop.
I will enter long with a small position and set my stop just below the start of wave A.
Then if price breaks out of this wedge, i will add!
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