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ElliottWaveBelgium

GBPUSD - Small Short opportunity with good R/R before Buying !

Short
British Pound / U.S. Dollar (OANDA:GBPUSD)  
ElliottWaveBelgium Updated   
OANDA:GBPUSD   British Pound / U.S. Dollar
Trend Analysis Wave Analysis Beyond Technical Analysis GBPUSD short shortterm riskreward
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trendanalysis waveanalysis beyondta gbpusd short shortterm riskreward
Looks like a good opportunity to short this for a few pips.
Pending order at the 61.8% retracement level.
If price does not reach it and goes lower, just cancel that order and look to buy once wave C of 2 ends.


Entry : around 1.2930, 61.8% Retracement level.
Stop : 1.3020
Targets : 1.2740 / 1.2670 / 1.2580

Third target has the least chance of getting hit, so think about taking some profits before it happens.
Comment:
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Comment:
Price rallied above our stop and got us out of this one.
Comment:
We might be in a Flat pattern and price might come down around 3068 but I won't trade this one, there are easier patterns we can trade on other pairs
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