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Eurgbplong

EURGBP, 4hr tf, buy wave-3 extension towards 0.9280Hello my friends, Another trading plan for next week is EURGBP. After price breaking above the descending trendline, this pair has gone up aggresively and i think there is still more to it. Right now price retracing a little bit after going up for around 240 pips from 0.8980 to 0.9230. This retracement is only a healthy correction as long as price hold above 0.9080-0.9060. We could see further weakness if price failed to hold above that 0.9080-60 area. I tried to break down this recent upwards movement with Elliott Wave theory and price currently retracing for wave-iv after completing wave-iii. If we look from daily timeframe, price also closed above 0.9150 which served as resistance. Hence, taking a buy position on a correction towards 0.9100-0.9090 looks promising. Buy EURGBP 0.9100 Stop loss 0.9060 Take profit 0.9280 (4.5R) RR Ratio 1 : 4.5 Use only 1-2% risk Good luck
Long
by HayatoDragonFX
2