GBPUSD - Elliott Wave
Updated
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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