Fxprotrader
Long

EURGBP Sell Off About to Be Over

FX:EURGBP   Euro Fx/British Pound
After a clear 5 wave move to the down price is testing a key support zone . Typically after a 5 wave impulsive move we have a correction ( Elliott wave ) and that's what we are planning to trade. A very good reason to this is that in RSI we see a bullish divergence .

Stoploss and profit targets as shown at the chart. As always i will enter this long trade with three positions and if price reaches the first profit target i will move stoploss to breakeven to the second and third positions.

Like and comment,
John
Trade closed: stop reached
wave-5 looks like 3 waves. not clear to me. i will wait for more green signals that we r going up.. Thanks for idea . cheers
+1 Reply
Could be A-B-1-2-3-4-5 terminal impulse. Your 5 has 3 waves...There's no overlap between 4 and 2/1 otherwise.
+1 Reply
Also spotted this bullish cypher on the 4H time frame. Good luck
Reply
snapshot
+1 Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
France
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out