Very simple Eliott Wave patterns, from this analysis we can expect price to drop drastically, while completing E Wave (600+ pips) long-term!
Executing position for best risk would be, at the top of the triangle or at the bottom...
Risk Reward could be up to 1 to 20, if you're very serious to hold this trade for kinda long time!
Executing position for best risk would be, at the top of the triangle or at the bottom...
Risk Reward could be up to 1 to 20, if you're very serious to hold this trade for kinda long time!
Trade active
01:00 (30/01/20)
Position Executed! On 1H time-frame price is making M formation which could be SELL trigger, after such an impulsive movement to the upside!
Note
01:25 (30/01/20)In case price hits my SL, i will re enter at the top of the Triangle...
Trade active
12:47 (31/01/12)
Our trade on 1H time-frame got taken out, after that i placed my sell limit order at the top of the triangle, and it got executed, lets see whats gonna happen next!
Note
12:50 (31/01/20)Note that everybody is BUYING GBP/USD, which is good indicator that we should SELL it...
Note
12:57 (31/01/20)+ UK is leaving brexit today, which could interfere with
Note
12:57 (31/01/20)*EU not brexit
*interfere with our analysis
Just woke up, cant type right, ahahah!
Note
16:33 (31/01/20)
I'm still in the trade, price managed to close above our TL, if price manages to break below the support, it will continue to drop, or else it will shoot up, as DXY broke-out of the trend-line
Trade closed: stop reached
17:34 (31/10/20)Price hit out SL, as DXY dropped very hard!
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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.