GBPUSD Long Opportunity: Bullish Falling Wedge & MACD RD

9 oct. 2024

I’m looking to buy GBPUSD on a breakout from a bullish falling wedge pattern, spotted on the H2 timeframe. The MACD indicator shows regular divergence (RD), signaling weakening bearish momentum. This divergence indicates potential reversal, supporting the breakout.

Trade Setup:

Pattern : Bullish Falling Wedge
Timeframe: H2
Entry: Upon confirmation of the breakout
Stop-loss: Just below the wedge structure to minimize risk
Target: 1.3240

11 oct. 2024

Transaction en cours

The breakout has now occurred and the price has broken above the wedge as expected. I anticipate further bullish momentum to follow.

16 oct. 2024

Trade fermée: ordre d’arrêt atteint

The breakout occurred as expected, but unfortunately, the stop-loss just below the wedge was triggered. Despite this, the overall bullish structure remains intact, and the MACD still shows signs of weakening bearish momentum, indicating that a bullish trend is likely to resume soon.

I’m monitoring for another potential entry if the price reclaims key levels (1.3120) and confirms bullish momentum once again. The setup still favors a reversal, and I’ll stay patient for the next opportunity.