GBPUSD Long: Updated Wave Count with High R/R

16 thg 9, 2016

Evenin' Traders! GBPUSD is correcting inside of an expanding descending triangle and has reached wave-(E). This trade takes advantage of a pullback after a bullish impulse wave which could be viewed as either wave i or a. So, in order to ride the following, usually stronger impulse which follows, we can wait for the pullback which has just occurred. There could still be a deeper correction into wave-2, however the risk to reward ratio is high enough to justify the risk of taking the trade. Happy trading!

16 thg 9, 2016

Giao dịch đang hoạt động

Keep an eye out for the deeper retrace level if SL is hit and the invalidation level!

16 thg 9, 2016

Đóng lệnh: dừng lỗ

Deeper retracement past invalidation level happened overnight. Here, we have a double zig-zag combination into a bat pattern. Interesting and a great opportunity to go long once we see a bullish impulse. Stay tuned!