GBPUSD - Small Short opportunity with good R/R before Buying !

Looks like a good opportunity to short this for a few pips.
Pending order at the 61.8% retracement level.
If price does not reach it and goes lower, just cancel that order and look to buy once wave C of 2 ends.

Entry : around 1.2930, 61.8% Retracement level.
Stop : 1.3020
Targets : 1.2740 / 1.2670 / 1.2580

Third target has the least chance of getting hit, so think about taking some profits before it happens.

Note

Don't hesitate to like, share my ideas and
Subscribe to my FREE Telegram Channel for more updates
t.me/em16public

Note

Price rallied above our stop and got us out of this one.

Note

We might be in a Flat pattern and price might come down around 3068 but I won't trade this one, there are easier patterns we can trade on other pairs

ElliottWaveBelgium

Don't forget to like, share and follow !

Questions? Chat or Comment on Ideas
Don't forget my public Telegram channel -
t.me/em16public

Thanks !

Also on:

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.

ElliottWaveBelgium

Don't forget to like, share and follow !

Questions? Chat or Comment on Ideas
Don't forget my public Telegram channel -
t.me/em16public

Thanks !

Also on: