GBPUSD BEAR FLAG
Tech Analysis only.
Thot I would post this perspective which is a higher probability statistically (see Bulkowski's Flag Patterns, but note he tested other markets).
My favorite pattern.
See Weekly/Daily charts, price is below trend line after a test. Bulkowski's percentage calculations projects a move to 1.14 level for which I won't entertain, but will capture the potential bearish move on lower time frames.
Thot I would post this perspective which is a higher probability statistically (see Bulkowski's Flag Patterns, but note he tested other markets).
My favorite pattern.
See Weekly/Daily charts, price is below trend line after a test. Bulkowski's percentage calculations projects a move to 1.14 level for which I won't entertain, but will capture the potential bearish move on lower time frames.
Trade active
05NOV2017 GBPUSD Sell 1.30647
s/l 1.30961
target: 1.28/managed
Note
moved stop to 1.3172 (via Daily) in event of false breakout Trade active
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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.