GBPUSD, Long
Updated
As showed in the chart, the price will bounce to reach around 1.30 area, and touch the upper edge of the downward channel, then might fall down again to finish the 5th wave, it may happen around Q1,2017, when the 50th rule affective.
plan as below,
1, if price break down 1.267, then put buy limit on approx 1.268, hopefully catch the 1.30 target.
2. if price break up 1.275-276, direct entry the position.
price further break up the resistance around 1.283, add position.
take the SL as protect within your risk management zone.
Good luck and good trade.
plan as below,
1, if price break down 1.267, then put buy limit on approx 1.268, hopefully catch the 1.30 target.
2. if price break up 1.275-276, direct entry the position.
price further break up the resistance around 1.283, add position.
take the SL as protect within your risk management zone.
Good luck and good trade.
Note
correct mistake---put "buy stop" on approx 1.268 as above mention.yesterday, the price ran up to the highest 1.277, but can not remain steady above this level
then price broke down 1.267, now is hanging around 1.263.
keep eyes on it.
you can consider 2 options
1. price with k signal that can not break through the 1.267, short, tp around 1.248
2. buy stop on 1.268/1.269, tp 1.277-1.30
take SL as protection.
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.