GBPUSD, 4hr tf, sell the retest of trendline
Trade ideas for GBPUSD by Hardi
After break below the descending trendline, we finally have a retest today.
Price go towards our desired price at 61.8 fibonacci retracement of recent breakout which could offer us a good 3R trade setup.
Overall if we follow it as bearish flag, the target should be around 1.35xx area but we will be satisfied if we could secure 3R.
Sell GBPUSD 1.3830
Stop loss 1.3900
Take profit 1.3620 (3R)
Use only 1-2% risk
Good luck
After break below the descending trendline, we finally have a retest today.
Price go towards our desired price at 61.8 fibonacci retracement of recent breakout which could offer us a good 3R trade setup.
Overall if we follow it as bearish flag, the target should be around 1.35xx area but we will be satisfied if we could secure 3R.
Sell GBPUSD 1.3830
Stop loss 1.3900
Take profit 1.3620 (3R)
Use only 1-2% risk
Good luck