bullish flag pattern - waiting for a confirmation

hey guys,

on pound dollar we had a very strong bullish momentum up until 1.33 level,
and just recently we have seen a pullback to a previous level of support
forming a nice bullish flag pattern.

now we see an attempt of the market to violate this falling channel,
and I believe that many traders have already bought this pair,
however, I suggest you slow down and wait until we see a bullish violation of a local resistance level on 1 h chart.

focus on 1.318 level and buy its bullish violation!

your initial target will be the market high
the second target 1.345 level and based on structure.

good luck!

Kommentera:

retest of support