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British Pound / U.S. Dollar
Short

GBPUSD short idea

By OceanBlue
Updated
Though being slightly incorrect wolfewave, it appears to be a good opportunity for sell entry.
Opened short at 1.29568/1.29593 TP 1.2832 SL 1.3052 (If 2-4 line is broken, SL will be moved to right after the peak point 5.)

GL All!
Trade active
Bearish mini-wave formed at point 5 of the larger purple pattern.

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Trade active
Added sell at 1.2970 to previous shorts at 1.295x/6x - it appears that formation of local top has been finished (hopefully :-)), placing SL above current peak.

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Trade active
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Purple wolfewave reached line 2-4 - 1 short closed.
6 more positions are being kept as the downtrend is likely to continue.
Trade closed: target reached
Absolutely amazing breakout, hitting initial TP1 (4 lots) and 2 remaining positions were left in free fall to be closed manually at TP2 bringing + 865 pips altogether.

Congratulations to all who followed this or similar setups! :-)

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gbpusdshortpatternWolfe Wave

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