USDGBP
4H Long
1. Price retraced WXY to fib
ext. 1:1 below major support with Bullish DIV at oversold
2. Price Break up major support and retraced
back to fib level 0.5 at major support + break recent trend resistance at 55EMA + 200EMA
3. Long USDGBP at 200EMA (current concern = price still under VWAP)
4. TP 1 = Fib ext 1:1 = $0.812
TP 2 = fib 1.236...
EURUSD 4H Short
1. 4H RSI wave 3 and wave 5 showing Bearish DIV at overbought and break down trend line into 70's
2. Price action also break down immediate trend line
3. short zone @ fib 0.5~0.764 of trend breaking candles.
4. TP = fib 0.382 of whole 5 EW
5. SL = 1 ATR above sing high
1. Price break down with Leading Diagonal as wave 1
2. Wave 2 formed descending triangle and broke down resistance
3. Wave 3 reached fib ext. 1:1 of wave 1 and 2
4. Wave 4 retracing as ABC correction with hidden bearish divergence at overbought.
5. Price break down wave 4 trend line, also RSI 4H break down immediate trend line as well
6. Short position at fib...
1. Wave A down trended with ABC correction
2. Wave B formed symmetric triangle and broke down support
3. Short position at break down support (now resistance)
4. TP = fib ext. 1:1 of Wave AB
5. SL = slightly higher Wave E of triangle
