gbpaud at the bottom? - Long
Updated
This may be the entry for the idea i've published almost a month ago (related ideas).
I am treating this correction as an ending diagional, this offers us a great risk to reward in the 3 entry points i've marked, and a small stop for the more agressive one.
Stops are placed below the invalidation point, that is where wave (v) is longer than wave (iii).
If price invalidates this setup, is nothing to worry about, if you comapre the stop with the potential reward this setup has.
For me:
Entry: 2.0021
Stop loss: 1.9899
Target1: correction upper trendline
Target2: upper D1 channel trendline
I am treating this correction as an ending diagional, this offers us a great risk to reward in the 3 entry points i've marked, and a small stop for the more agressive one.
Stops are placed below the invalidation point, that is where wave (v) is longer than wave (iii).
If price invalidates this setup, is nothing to worry about, if you comapre the stop with the potential reward this setup has.
For me:
Entry: 2.0021
Stop loss: 1.9899
Target1: correction upper trendline
Target2: upper D1 channel trendline
Note
First position break even, and added on break of trendline
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