Hello my friends,
Today we are going to sell GBPUSD as i think price pretty much overbought and looks like bulls start to exhausted.
If we do an Elliott Wave count, we found that we are at the end of Wave-5 and pretty much we will see an ABC correction soon.
Price also moving inside this upwards channel respecting it for the last 4 weeks.
Finally it come to meet an area of confluence resistance at 1.3485 and was rejected from it twice already.
With this second rejection at this resistance then i am convinced we could try selling GBPUSD now.
Sell GBPUPSD 1.3475
Stop loss 1.3520
Take profit 1.3295 (4R)
RR ratio 1 : 4
Use only 1-2% risk
Good luck
Today we are going to sell GBPUSD as i think price pretty much overbought and looks like bulls start to exhausted.
If we do an Elliott Wave count, we found that we are at the end of Wave-5 and pretty much we will see an ABC correction soon.
Price also moving inside this upwards channel respecting it for the last 4 weeks.
Finally it come to meet an area of confluence resistance at 1.3485 and was rejected from it twice already.
With this second rejection at this resistance then i am convinced we could try selling GBPUSD now.
Sell GBPUPSD 1.3475
Stop loss 1.3520
Take profit 1.3295 (4R)
RR ratio 1 : 4
Use only 1-2% risk
Good luck
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.