Hello everyone,
EURGBP is trading sideways for the last two years within a very big contracting range. We see that path as a five A-B-C-D-E move where each leg has a characteristic of a correction. It’s a triangle that can be coming to an end of wave B. So, despite very strong leg up in the last few days, this can be still just an early start of a much bigger bullish trend that could lift pair even towards 0.95 area, where we see a nice psychological triangle measurement target.
However, what really matters to me at this point is a bounce from the lower trendline support which means that new, at least temporary swing is now underway to the upper side of a range; to 0.9000. So from a trading perspective, despite potentially limited upside there is room for trades on the long side, especially now when we see a completed five-wave rally. So, a three wave A-B-C pullback on hourly chart can be interested for longs. This view remains valid as long as 0.8655 level is not taken out.
Trade well!
EURGBP is trading sideways for the last two years within a very big contracting range. We see that path as a five A-B-C-D-E move where each leg has a characteristic of a correction. It’s a triangle that can be coming to an end of wave B. So, despite very strong leg up in the last few days, this can be still just an early start of a much bigger bullish trend that could lift pair even towards 0.95 area, where we see a nice psychological triangle measurement target.
However, what really matters to me at this point is a bounce from the lower trendline support which means that new, at least temporary swing is now underway to the upper side of a range; to 0.9000. So from a trading perspective, despite potentially limited upside there is room for trades on the long side, especially now when we see a completed five-wave rally. So, a three wave A-B-C pullback on hourly chart can be interested for longs. This view remains valid as long as 0.8655 level is not taken out.
Trade well!
노트
INTRADAY UPDATE: EURGBP still can be trading within sub-wave (iv), so we still expect a final drop into a support zone for wave (v) of c, from where a rally may begin.노트
EURGBP is moving as expected! More upside in view!
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면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.
Join the community for one week, full access. Its free >> @ wavetraders.com/elliott-wave-plans/
Learn Elliott Waves Sale-65%
👉 wavetraders.com/academy/
Newsletter
👉 bit.ly/3FVPVzO
Learn Elliott Waves Sale-65%
👉 wavetraders.com/academy/
Newsletter
👉 bit.ly/3FVPVzO
관련 발행물
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.