GBPUSD has formed a Bull Flag and we could be getting ready to see the Bulls take the spotlight!After Price broke through the Previous Level of Structure, Price retraces the High of 1.35589 to the 50% Fibonacci Level @ 1.35022 and is supported pushing Price back up from the Previous Level of Structure.
-The 50% retracement signals the end of the Consolidation Phase of the Pattern.
Now with a Bull Flag being a Continuation Pattern, we can suspect that Price will give us a Bullish Breakout of the Descending Channel and Retest before moving higher Confirming the Pattern and once the Breakout is Validated!
Based off the "Flagpole" of the Pattern, if a Bullish Breakout is Validated and the Retest is Successful, the extension of the Set-up would place the Price Target @ 1.3640 which is at the next big level of Resistance.
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Price on GU made a 2nd Retracement to the 50% level and rose out of the Descending Channel.
Long Entry @ 1.3535
SL @ 1.3496
TP @ 1.3640
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~~~~
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For All Things Currency,
Keep It Current,
With Novi Fibonacci!
~~~~
Join me in Patterns To Profits on Discord
- Live pattern breakdowns
- No signal selling / - No Guru Hype
- Just structure and probability
- discord.gg/zKWvwJgFq
Keep It Current,
With Novi Fibonacci!
~~~~
Join me in Patterns To Profits on Discord
- Live pattern breakdowns
- No signal selling / - No Guru Hype
- Just structure and probability
- discord.gg/zKWvwJgFq
関連の投稿
免責事項
これらの情報および投稿は、TradingViewが提供または承認する金融、投資、取引、またはその他の種類の助言もしくは推奨であることを意図したものではなく、またこれらに該当するものでもありません。詳細は利用規約をご覧ください。