Similar setup as with EURUSD, this one is clearer IMO.
Good luck!
- Taget and stop on the chart.
- Bullish harmonic (Nen star derived pattern)
- 2 scenarios, the bear scenario should be under control with that stop loss.
- ABCDE/12345 open triangle wave structure, finishing C/3 wave. Wave D/4 coming, possibly hitting 1.3950 in the short term, 1.4550 in the mid term. Or maybe this is just an ABC correction, either way 1.3950 seems reallistic in a B wave.
Good luck!
Trade active
Note
Open trade so far healthy.Nothing particularly strange other than those news coming from UK, as expected.
Still heavy oversold, downtrend clearly slowing down. We'll see if this doesn't pick up speed down and confirms my scenario.
Cheers!
Note
Looking good, about to pop?Note
Nice extra leg down, now reentered at 1.3406.Same stop.
Trade closed: stop reached
Stopped out, moving on.
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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.