PriceActionTrading
Long

3 REASON WHY YOU SHOULD BUY THE POUND

FX:GBPUSD   BRITISH POUND / U.S. DOLLAR
705 6 16
SEE CHART.
TRADING THE 78.6% OF THE BULLISH IMPULSE UPWARDS.
ALSO THE 161.8% OF THE CORRECTION WAVE.
RSI D1 DIVERGENCE.

BUY @ 78.6% WITH SL BELOW 88.6%.
TP1 - 61.8% OF CORRECTION
TP2 - TOP OF BULLISH IMPULSE.

NOTE THAT I ALSO HAVE A GBPJPY             SELL SETUP. IT IS CONTRADICTING, YES, BUT YEN HAS BEEN WEAK WHILE DOLLAR WAS STRONG. SO THERE ARE DISPARITY. BOTH ARE VALID.
Hmm I need to see some sign of reversal to support the idea, I´ve been cut many times with a failing knife
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Yes definitely. Looking for reversal around the 88.6% since 78.6% was broken.
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Agree! My counts on Elliott wave also come up the same idea! Your charts are always clear and clean!
Sincerely,
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Nice. I know theres a count somewhere but to me the "counting" is irrelevant. But thats just me :) All the best to us.
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We are seeing so many RSI divergences, n so many pairs. It's crazy :)
+1 Reply
Yes indeed. It should be a good week onwards.
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