This correction might not be over. What I can say with confidence, however, is that we have already completed pattern 3-3-5 Flat Correction and that did not end the overall correction. Then we completed what looks to be a large ABC pattern or Wave X and is developing, did not end it. Some corrections become more complex with multiple Elliot Wave corrections...
GBPUSD failed to break the descending trend line and broke the ascending trend line which supports the bearish scenario targeting 1.20 then 1.19 in the coming days
stop loss should be placed at 1.22
Whats up everyone? Lets start this new trading week with a new idea!
We are looking at the EURGBP pair on the 4h timeframe and im expecting price to drop from now. When you guys look on the overall timeframes like the daily etc. you will see how bears take control.
I really like to enter right now on the retrace, with really high reward to low risk - as always....
D1 - Price has created lower lows currently it looks like a flat correction is happening.
H4 - Price is moving inside a bearish flag pattern.
H1 - Price is moving inside a small range, price has reached a critical zone formed by the top of the H1 range, H4 bearish flag and the fibo levels of the cycles we have and is currently moving lower.
Until the price...
W1 - Price is at the middle of the channel.
H4 - Price is moving inside a triangle pattern.
If the price moves lower and breaks below the bottom of this pattern, we may then start looking for sells with more bearish evidences.
Current price is moving in a bearish wedge.
Right now clearly bearflag. copy past one in blue circel
Means it will test the lower support of the wedge and maybe a break down.
like your likes, thanks for support
Ascending Triangle in bear flag you often see a small break to the upside before the continuation. Got to get people on wrong side of trade first.
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Weekly Trade Review #57: Trading Lessons + Trade Ideas (BEST Crypto Trading Ideas 2019)
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