Two bar breakout is on the way. Yesterday, 11 September 2014 I found a nice 2 bar breakout setup on GBPUSD H1 timeframe. See the setup below
On the above chart (focus on the Fibonacci area) we can see GBPUSD H1 timeframe has made a new high. We are looking for a SELL position (only few pips) but it works. Draw Fibonacci from the highest point to the low of previous bar. As you see the price move down and touch level 161.8. This 161.8 is our SELL target.
Today, 12 September we'll wait for the same setup on GBPUSD H1 timeframe.
