GBPUSD is still in a correction stage as it has finished the B wave where it is an irregular wave and a trap for some traders as it broke the previous swing. Wave C in WAVE B was 5 waves where wave 3 is 150% of wave 1, and wave 5 is 100% of wave 1! which makes it an ideal 5 elliot waves.
Trade active:
It made another irregular correction, however i'm still bullish on the GBPUSD
if it breaks the 1.2230, it will cancel my signal. other than that we are still bullish
if it breaks the 1.2230, it will cancel my signal. other than that we are still bullish
Trade active:
There was a lot of selling pressure, however it didn't break the 1.2230 level by closing below it and closed exactly at the 100% level of wave 1 length as my drawings with a great pin bar which gives more credibility for my counting.
the only mistake i made was the stop loss level as i didn't expect the huge selling pressure when it reached my level at 1.2282
my positions are still open and still positive about this signal.
good luck everyone :)
the only mistake i made was the stop loss level as i didn't expect the huge selling pressure when it reached my level at 1.2282
my positions are still open and still positive about this signal.
good luck everyone :)