BULLISH PENNANT FORMING ON GBPUSD - LONG

Bullish pennant forming on GBPUSD. Strong resistance at 1.277, look for entries at around 1.278 and then set a trailing stop to break even. Initial SL @ 1.27400. If it breaks the resistance and holds, it should function as a strong support. TP could easily reach 1.28138 and above. Candle needs to close above the upper trendline for this setup to be valid.

Happy Trading.

Kommentar:

Structure still forming and still valid

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Might be able to go on a stop hunt above 1.28 ;)

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Hopefully this closes above the trendline

Trade ist aktiv:

SL @ 1.27200

TP 1.28+

Kommentar:

Up and away we go!

Trade geschlossen: Ziel wurde erreicht

Kommentar:

TP of 1.27801 was hit.