GBPUSD Long, RR 1 : 1.65
GBPUSD weekly TF struggle to close below 1.2700, creating triple rejection on my EMA21 leaving long tail below.
Reason :
- 3x times weekly candlestick has struggled to close below 1.2700 price leaving long daily candle tail below.
- Elliot Corrective Wave in play.
- Potential to reach next resistance points :
Entry point Long : CMP or any pullback at 1.2700 area ; TP : 1.2870 (+160pips) ; SL previous low.
Risk Reward 1 : 1.65
Always remember to trade with stop-loss, market is crazy & cunning*
Reason :
- 3x times weekly candlestick has struggled to close below 1.2700 price leaving long daily candle tail below.
- Elliot Corrective Wave in play.
- Potential to reach next resistance points :
Entry point Long : CMP or any pullback at 1.2700 area ; TP : 1.2870 (+160pips) ; SL previous low.
Risk Reward 1 : 1.65
Always remember to trade with stop-loss, market is crazy & cunning*
Trade active
GBPUSD hit 1.2856 high yesterday, move SL to BE - secure a risk free trade.Note
TP 1.2870 hit, 1.3000 hit too! I hope you guys enjoyed my analysis.
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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.