GBPUSD clear wave pattern down
Within the tramlines, we have a clear entry into W5 after the long W3. Playing safe, I am trading 5=1 equivalence (the length of W5 is the same as W1, and shorting a 2:1 trade for 1.241 target. Fundamentals are in sync, there is still no clear path to a Brexit deal. The stop is just above the W4 end/tramline. In reality 1.2284 is quite possible.
Trade closed: stop reached
Broke out firmly on generally weaker dollar. Can't win 'em all.
David Atherton
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David Atherton
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.