GBPUSD Got another Flag within the daily Flag

I am also seeing a flag building up in H4 GBPUSD
very nice bearish move on Friday with 3 nice bearish candles
I like this Chart (GBPUSD) much much better than EURUSD I see more Opportunity with lower risk higher rewards here. So,
TWO PENDING Order @ Open
1) Short STOP Order below Friday Low
SL above 1.2300
TP 1.2150 (Fib 1.618) to 1.2100+/-

My 2nd trade is
2) BUY STOP Order above 1.2300
SL Below 1.2260
TP 1.24 -1.2430 +/-

If MY Buy set up triggered I will look for short entry around the upper band (1.2400 +/-)

Now After writing down my trading Plan for GBPUSD when I see it on Black and White
I really like it much better Than EURUSD Set up.

Good Luck

Kommentera:

TP was hit taking home 130 pips not a bad start for first trade of the year.
I will look for more low risk high probability trades.

Kommentera:

Continuing Short on GBPUSD on pull back