GBPUSD is forming a Bat pattern which expected to be complete at D point as shown in the chart. The reason i see a potential in this trade that a price action (engulfing candle) appeared at C point
This is just an Idea. please do your analysis before taking any trade and don't depend on other analysis. Happy trading
Trade active
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nice move from our entry point. 50+ pip
Trade closed: target reached
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TP 1 reached 160 pip :) .. close half of your positions followers
Trade closed manually
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after reaching TP1 the market found sellers after yesterday BOE conference and the price broke the channel below our buy entry and confirmed the change in trend therefore i decided to close this trade to save our profit which we made in TP1.
Total profit in PIPs for this trade is TP1 (160) - SL (40) = 120 pips during this week.. not bad ;)