Previous GBP/USD trade was closed at BE ahead of the BOE/MPC news/events. However, we were willing to buy again if the overall impact of the news/events came positive.
GBP/USD started surging up after the news. A buy position was entered as soon as RSI crossed 50. Moreover, we got a Gartley under construction.
Risk: The position will be closed if an H1 candle will close below C.
Alternative scenario:
XABCD may not stop at the first resistance and may reach the final resistance forming a hybrid of Crab and Butterfly. The final resistance is a significant level because it's a confluence resistance cluster made by the XABCD ( 224% of BC & 127.2% of XA) and the ab=cd level. It means that the whole XABCD can be just a part of abcd development.
Trade plan 1: Close the position when the pair touches the 1st resistance, then re-enter after a tiny retracement (e.g. 23.6%) to target the final resistance.
Trade plan 2: Close half of the position when the pair touches the 1st resistance, then close the rest half at the final resistance.
2nd target was hit too.
It hit the first target.