Fxprotrader
Long

EURGBP Sell Off About to Be Over

FX:EURGBP   Euro / 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

snapshot
+1 Reply
Also spotted this bullish cypher on the 4H time frame. Good luck
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
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
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