GBPUSD Long
Updated
On this one, I'm more looking at price action. We had a double top (1, 2). Then price moved down, then back up. We didn't have a clean ABC correction/bottom breakout. Price is now consolidating (before a top breakout). Therefore, I'm more and more expecting a small correction down to the previous support zone (previous neck line, 3). Then an impulsive move up/breakout (4) up to a previous daily top @ 1.2765.
Entry: 1.2515 (or market)
Stop: 1.2490 (trail stop following bottom trend line)
Target: 1.2765 (previous daily top)
Entry: 1.2515 (or market)
Stop: 1.2490 (trail stop following bottom trend line)
Target: 1.2765 (previous daily top)
Trade active
Top breakout happened faster than expected. I'm entered at market with a stop below bottom trend line.
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