GBPUSD - Elliott Wave
Each leg of the wave bounces off the 61.8 mark, and extends to 1.618. I expect a bounce off 1.2400 (my entry), which is the 61.8 retracement for the entire 12345 wave combined. Ideally, place stop loss below the previous swing low based on your risk-reward profile. My TP is 1.24950 and SL is 1.23775. Pattern is invalidated if the candle surpass the previous swing low.
Trade closed: target reached
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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.