Fxprotrader
Long

GBPUSD Breakout of Corrective Structure Open Doors for Longs

FX:GBPUSD   British Pound/U.S. Dollar
739 12 25
a year ago
After a sharp upmove price moved down into a descending channel. It has now broken the upper parallel giving us a nice buy opportunity.

Stoploss and profit targets as shown at the chart. If price reaches the first target we move stoploss to breakeven at the second one.

Regards,
John
a year ago
Trade closed: target reached: Move stoploss to second position at breakeven.
a year ago
Trade closed: target reached
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Very nice! :) For this kind of trading is the impulsive wave necessary? Do you watch out for divergence ?
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Fxprotrader PRO morshedul.sazid
a year ago
Yes, that's right.. Everything starts from an impulsive move.. Then i wait for the correction and either i trade the 0.618 depending on the structure or the breakout.. I watch for divergence mailnly at higher timeframe.. I hope that helps..!
+1 Reply
morshedul.sazid Fxprotrader
a year ago
Thank you! Would love to learn more :)
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Fxprotrader PRO morshedul.sazid
a year ago
:)
Reply
Great Read.
Reply
Fxprotrader PRO Forex-De-Lis
a year ago
Thank you James..
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Piet.Hein
a year ago
wonderful
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Fxprotrader PRO Piet.Hein
a year ago
Thank you mate.. Wave patterns work wonder..!
Reply
Mughal2657 Fxprotrader
a year ago
its very easy to understand the bigger picture of the market with the wave patterns
Reply
Fxprotrader PRO Mughal2657
a year ago
Very nice comment my friend.. Totally agree..!
Reply
Mughal2657 Fxprotrader
a year ago
thanks bro
Reply
Piet.Hein Fxprotrader
a year ago
I know ;)
Reply
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