GBPUSD. Bearish Bat pattern meaning end of a correction

Jan 15, 2017

GBPUSD pair is probably forming a bearish Bat pattern with three legs already completed. I expect a beginning of a new leg up which would mean the last leg of a bullish correction before further decline for the Pound.

Will open a long position at the nearest dip, setting a Stop-Loss order at 1.19 and Take-Profit order at 1.3350

P.S. Notice a curious candle on a Weekly chart before the market opening =)

Jan 15, 2017

Note

Looks like we begina week completing the bearish Cypher first

Jan 17, 2017

Trade active

And here we go! From now moving on, GBP is a "buy-the-dip" story

Jan 28, 2017

Note

Remember: buy the dip!

Apr 23, 2017

Note

Three months trade doing well for now

May 26, 2017

Note

Since January 2017 , unfortunately I´ve achieved to stack only 3 positions: 2 at 1.20 and another on March at 1.22.

I closed the most recent position at 1.30, keeping now 2 longs from 1.20. If I see Cable below 1.25 for me that would mean and end of a correction and new impulse down with targets below 1:1.

Jun 8, 2017

Note

Getting ready to add longs around 1.257

Aug 3, 2017

Trade closed: target reached

Almost there but I don´t really mind closing the position here