GBPUSD 4th wave sell
Updated
GBPUSD continues bullish however we have what looks like completion of a 3rd wave.
Trying something different so my stops are wider than usual.
Sell 1.4585 TP 1.4455 (1.28 Reward:Risk)
Sell 1.4575 TP 1.4390 (0.98 Risk)
4th wave will likely target anywhere from 1.4350 to 1.4480
Oscillators - we have divergence on the stochastic RSI but not the RSI. H3 shows RSI divergence.
Trying something different so my stops are wider than usual.
Sell 1.4585 TP 1.4455 (1.28 Reward:Risk)
Sell 1.4575 TP 1.4390 (0.98 Risk)
4th wave will likely target anywhere from 1.4350 to 1.4480
Oscillators - we have divergence on the stochastic RSI but not the RSI. H3 shows RSI divergence.
Note
Decent post-FOMC volatility. Low of 1.4475 or so short of 1.4450 target. Unsure of where we go from here so <b>Stop Loss moved to break even</b> and we see if breaks below 1.4540 are sustained/sustainable. Much depends on EURUSD and EURGBP
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.