GBP/USD Potential Short Term BUYing opportunity
The wave 3 of the wave C is in progress and one more dip to 1.2575 area will completes the wave 3.
A short term BUYing opportunity is there in the 4th wave correction.
The trading strategy is as follows;
Trade 1 - BUY @ 1.2575, SL @ 1.2570, TP @ 1.2750 (Wave - 4 correction)
Trade 2 - SELL @ 1.2750, SL 1.2758, TP @ 1.2500 (Wave - 5 of Wave - C)
The ABC pattern will completes when the wave C completes at 1.2500 area.
A short term BUYing opportunity is there in the 4th wave correction.
The trading strategy is as follows;
Trade 1 - BUY @ 1.2575, SL @ 1.2570, TP @ 1.2750 (Wave - 4 correction)
Trade 2 - SELL @ 1.2750, SL 1.2758, TP @ 1.2500 (Wave - 5 of Wave - C)
The ABC pattern will completes when the wave C completes at 1.2500 area.
Trade closed: stop reached
Trade stopped out and the idea is invalid.
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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.