KVE
Long

GBP/USD: Ending diagonal and possible double bottom?

FX_IDC:GBPUSD   BRITISH POUND / U.S. DOLLAR
266 0 6
I entered long about an hour ago, too soon so it seems... I have closed half the position and will re-enter long with that part when I have confirmation that the structure might be complete. All SL's will be below the point where a double bottom will be formed.

Final R/R will still be fine due to this double entry technique.

Good divergence on the MACD and other oscillators supports this bullish scenario!

If we break above the blue line drawn above we are back within the boundaries of a much larger ending diagonal from where we could see a significant move up (see bat in linked idea), potential for this trade is therefor much bigger than the setups on the chart!

If my SL is hit I will look to short this pair based on a possible AB=CD completion (also see linked idea).

Trade closed: stop reached
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