Long Idea for GBP/USD on the 1 hour timeframe. The D leg of the pattern completes at a zone where previous structure has touched. GBP/USD has been moving to the upside for the last month or so, giving me reason to believe it will go higher. The weakening U.S. dollar also gives me confidence that this pair will go higher in the near future. A small trade hoping to take two profits for a total of about 350+ pips. A decent risk to reward as well. (By the way, I am in no way an "expert" at analysis. I am merely a new trader who's been trading for roughly 4 months at the age of 18 so please do not take this idea serious.) I am also testing the idea publishing tool on TradingView. Please leave comments and feedback! :)
Kommentar:
Unfortunately, I did not enter this trade because price never hit my D leg completion. However, I would give it a B- as far as technical analysis.