- GBPUSD
1. Weekly timeframe - I spotted a two patterns on the weekly timeframe with opposing directions;
a) Bearish Triangle,
b) Bullish Flag,
But because the overall trend is down I
that flag is not significant
2. Daily Timeframe - Price can either respect both resistance trendlines from the bearish triangle and bull flag or it can break through and make a double top before we see that move to the recent lower low.
3. 4-Hour Timeframe - Head and Shoulders in side of both the bearish triangle and bull flag (short bias)
4. 1-Hour Timeframe - Head and Shoulders nothing significant
*the overall bias to me is short I will place two sell stops*
Sell Stop 1;
Entry: 1.21857
Stop loss: 1,23632
Take Profit 1: 1,14857
Take Profit 2: Open
Sell Stop 2,
Entry: 1,43889
Stop loss: 1,33920
Take Profit 1: 1,30771
Take Profit 2: 1,14857
Take Profit 3 Open
Please only risk 1-2% of your account per trade for trades with multiple TP’s divide lot sizes into two or more
1. Weekly timeframe - I spotted a two patterns on the weekly timeframe with opposing directions;
a) Bearish Triangle,
b) Bullish Flag,
But because the overall trend is down I
that flag is not significant
*the overall bias to me is short I will place two sell stops*
Sell Stop 1;
Entry: 1.21857
Stop loss: 1,23632
Take Profit 1: 1,14857
Take Profit 2: Open
Sell Stop 2,
Entry: 1,43889
Stop loss: 1,33920
Take Profit 1: 1,30771
Take Profit 2: 1,14857
Take Profit 3 Open
Please only risk 1-2% of your account per trade for trades with multiple TP’s divide lot sizes into two or more