Hello Guys, GBPUSD is currently moving downside . Upside move is over and now its making a down move within a nice pattern. Its seems that we got a inside breakout of the trendline but currently pair is making a lower correction.Here are two things which we'll be looking if we are going to trade. First thing we should be looking at is the lower timeframe correction for continuation of the trend. If we get that it will be a good trade. if it breaks early then we'll be looking at the violation of the previous horizontal line because otherwise it can still make move up and turn into higher timeframe correction!!
Trade according to your own strategy!
評論
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Price didn't violated the line or even didn't got a breakout! Instead, we got move up as expected! 4h view.
I placed alread a short at 1.28856, do you think I did good?
WaveExpert
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Ok if you don't have a tight stoploss. @Michelino12,
VASHKA
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Do we wait for Trend continuation before selling after breakout I.e flag formation after breakout, then sell?
WaveExpert
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Yes, if it makes a trend continuation pattern then it would be a convincing entry! You can sell on retest as i posted in update but convincing entry will be breakout fo the lower correction! @VASHKA,