Hello traders.
GBPUSD broke the down trendline and now I'm waiting for a flag to take a long trade. This will be a short-term trade. If you look at the following image you can see that It came down sharply after weekly corrective structure and now, I'm expecting a correction before the next down impulse. So, my target is only the A wave inside of the correction. My plan is to move the stop-loss to positive levels and then let the market stop me out with some profit.
GBPUSD broke the down trendline and now I'm waiting for a flag to take a long trade. This will be a short-term trade. If you look at the following image you can see that It came down sharply after weekly corrective structure and now, I'm expecting a correction before the next down impulse. So, my target is only the A wave inside of the correction. My plan is to move the stop-loss to positive levels and then let the market stop me out with some profit.