GBP Weekly and Daily chartsGBP breakout with the expectation of prices continuing lower, but i'm still factoring a counter-trend move back towards the September 50% level before the trend continues down.
This week's 5-day sideways pattern and next week's balance point (5-day 50% level), should provide a much more robust reversal.
GBP 3-day pattern
The Previous week on GBP I didnt trade because GBP didn't stall, it kept on trending in 1 direction from the August breakout.
This week provided 3 robust set-ups, and one 'dopey' trade on Friday, which I covered at no loss, once I realised what I was doing.
Monday and Tuesday:- 3-day filter rejection pattern towards the daily lows (95 pips)
Wednesday:- 5-day 50% level support and trade up into the 3-day filter and exit.
Friday:- long on the Thursday breakout using a 41 pip spiral bottom, but covered once I realised it was a silly trade.. no loss.
Monday's Daily report after 11.00am
