GBPUSD Short this coming pull back
Updated
Entry is .236 of wave 3. That price area has confluence with wave 3 of 3.
Price recently came down and reversed on a bullish pin bar. Stoch just crossed up, and macd is turning up. I expect price to go up now for wave B and reverse around the .236.
Target is .618 but price very well could go over lower than the .65.
I am studying and learning Elliot Wave and am so fascinated by it. I would LOVE your feedback, please let me know your thoughts!
Thanks for looking!
Price recently came down and reversed on a bullish pin bar. Stoch just crossed up, and macd is turning up. I expect price to go up now for wave B and reverse around the .236.
Target is .618 but price very well could go over lower than the .65.
I am studying and learning Elliot Wave and am so fascinated by it. I would LOVE your feedback, please let me know your thoughts!
Thanks for looking!
Note
It's looking like my entry at the .236 was too high - the B wave topped out at 1.32556. I'm now waiting this move down and will LONG the bottom of C for the start of impulse wave 5.Looking at the .618 area as entry, with SL around 1.305. That trade is enticing because if the entry is timed right, the SL can be tight and have a good R:R.
Thanks for looking!!
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