Sterling, 2 simple ABC correction before up?
It seems that Pound is forming a flat pattern here which includes 2 ABC corrections (see the image below of Daily chart)
We are expecting 2 scenarios:
1- A corrective short term corrective pattern here and then the continuation of the up move
2- A Daily 3 wave simple ABC structure which has a smaller ABC inside
💬 Please let me know your perspective on this
Happy Trading & stay green! ✌️
➖➖➖➖➖➖➖➖➖➖➖➖➖
🔗 Check out the "Related ideas..." in the links below too
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📌 Kindly note that Forexian is not a signal provider. The published idea is ONLY our views and analysis of the market!
Forexian does not take any responsibility for your decisions and/or trades.
We are expecting 2 scenarios:
1- A corrective short term corrective pattern here and then the continuation of the up move
2- A Daily 3 wave simple ABC structure which has a smaller ABC inside
💬 Please let me know your perspective on this
Happy Trading & stay green! ✌️
➖➖➖➖➖➖➖➖➖➖➖➖➖
🔗 Check out the "Related ideas..." in the links below too
➖➖➖➖➖➖➖➖➖➖➖➖➖
📌 Kindly note that Forexian is not a signal provider. The published idea is ONLY our views and analysis of the market!
Forexian does not take any responsibility for your decisions and/or trades.
Comment:
I found 2 similar situations, you can see one of them on Nov. 2016 in the image and can see a big ABC correction before take-off which has an ABC correction inside itself (maybe 2)
Trade closed manually:
Last night during FOMC closed it with about 530pips to find another buy later
