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KhaleemAli

GBP/USD SHORT - Bounce off Trend Line/Shooting Star

Short
British Pound / U.S. Dollar (FX:GBPUSD)  
KhaleemAli Updated   
FX:GBPUSD   British Pound / U.S. Dollar
10
0
A shooting star was formed on the 1HR timeframe just on the touch of the ascending wedge upper trend line. The 4HR timeframe created a dog at the trendily after a sharp bullish move, could be the formation of an evening star. This should be a short retracement before the trend continues upwards.
Comment:
SL moved upwards to make the R/R 1. This was done because the price seems to be reacting and moving back towards the upper trendily, however, after this should reverse back downwards to continue the trend. If it touches the trend line again this will mean that i can place the TP lower as the space is wider so I can be confident the price will head lower and touch the trend line at that lower price.
Comment:
Sorry, I commented for the wrong trade, that comment was meant for the USD/CHF trade below.
Trade closed: target reached:
SL was moved to 0 pips, Breakeven trade.
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