GBP/USD analysis & trading plan by Keon Consultancy

As the harmonic patterns -- which are reversal patterns -- mentioned in this previous analysis completed, we started searching for an opportunity to sell. If a reversal pattern doesn't cause full reversal, it can cause at least a 30% retracement against the total length/move of the pattern.

Since we wanted to exit the sell position at the nearest target, which is 30% of ab, we looked at M30 timeframe to find an early opportunity. As soon as the widening triangle shown in the picture, was broken to the downside, we entered a sell position.

Risk: If the GBP/USD returns back to upside and an H4 candle will close above today's high made so far, exit the trade.

  • Facebook Social Icon

© 2010-20 by

The information on this website is not targeted at the general public of any particular country. It is not intended for distribution to residents in any country where such distribution or use would contravene any local law or regulatory requirement.


Past performance is no guarantee of future results. Your capital is at risk in Forex & CFD trading.