GBP/USD - Aug.2.2020
At the end of the 5th wave there was a false breakout of the upper trend line. The price must come back within the equidistant channel to confirm the Wolfe Wave patter. Once this happens, a short position would be a reasonable trade.
Entry : 1.3077
SL : 1.3195
TP : 1.1887
Entry : 1.3077
SL : 1.3195
TP : 1.1887
Note
Sorry, I made a mistake when I typed the entry value. It should be 1.2968 as shown in the chart.
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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.