GBPUSD :: Short term rally before the drop?!
Updated
Really clear Elliott Wave Pattern formed on the 1 hour chart in Cable.
Wave 2 finished perfectly hit 76.4% retracement of Leg 1 and beautifully formed Doji candle!
Clearly waiting now for leg 4 retracement to 1.2140 area and will take the offer for move to 1.2220 - 1.2240 area.
Cable OBVIOUSLY in a longer term downtrend which I expect to continue so this idea is just looking to pick up 75 - 100 pips (barring any Brexit madness!)
instagram.com/iamleonbrown_
Wave 2 finished perfectly hit 76.4% retracement of Leg 1 and beautifully formed Doji candle!
Clearly waiting now for leg 4 retracement to 1.2140 area and will take the offer for move to 1.2220 - 1.2240 area.
Cable OBVIOUSLY in a longer term downtrend which I expect to continue so this idea is just looking to pick up 75 - 100 pips (barring any Brexit madness!)
instagram.com/iamleonbrown_
Note
The short-term rally clearly correct - but timing of the entry OR the stop could have been better...Stay tuned for update in a new trade idea
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