TheForexSamurai

Many opportunities to LONG or SHORT whatever market will DO!

TheForexSamurai Updated   
FX:GBPUSD   British Pound / U.S. Dollar
11
Hi guys, here on the Cable the market is in consolidation hence inside a symmetrical triangle. A BO either up or down is an opportunity for us to enter for a trade and for targets we could go and manage it with a fixed max potential TP on a pattern completion by which if it breaks to the upside we could go and LONG and target would be on a bear pattern completion. Same goes if it does break to the downside, our target would be atleast on a bullish butterfly pattern completion (127.20% confluence with the 78.60% fib ret level) down to the Bull Bat pattern at the 88.60% fibonacci level and goes same for a LONG opportunity depending on future price action/market sentiment. Caveat.

Personally my long term call on this market is bullish, so once a bear pattern is completed like here as for a potential bearish Gartley pattern I would like to wait for signals or confirmation if I could short this.
Comment:
BO above, candle close in the HR 4 above our trendline will look for LONG/BUY position on the LTF.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.