GBPUSD weekly TF struggle to close below 1.2700, creating triple rejection on my EMA21 leaving long tail below.
Reason :
- 3x times weekly candlestick has struggled to close below 1.2700 price leaving long daily candle tail below.
- Elliot Corrective Wave in play.
- Potential to reach next resistance points :
Entry point Long : CMP or any pullback at 1.2700 area ; TP : 1.2870 (+160pips) ; SL previous low.
Risk Reward 1 : 1.65
Always remember to trade with stop-loss, market is crazy & cunning*
Reason :
- 3x times weekly candlestick has struggled to close below 1.2700 price leaving long daily candle tail below.
- Elliot Corrective Wave in play.
- Potential to reach next resistance points :
Entry point Long : CMP or any pullback at 1.2700 area ; TP : 1.2870 (+160pips) ; SL previous low.
Risk Reward 1 : 1.65
Always remember to trade with stop-loss, market is crazy & cunning*
交易進行:
GBPUSD hit 1.2856 high yesterday, move SL to BE - secure a risk free trade.
I hope you guys enjoyed my analysis.