Pound Inggris / Dollar ASPenjualan
21/10/11 - GBPUSD is in a Flat ABC Correction - By RT_Trading_
Good morning everyone,
Today we are looking at are Forex chart as I think this could be an amazing swing opportunity for us. Sadly I didn't had the time to post this analysis when GBP hit our 124% entry which would be for you guys obviously the best entry too.
I suggest to entry sells, when GBP is done retracing the previous sell-off movement that saw on 124% extension. Maybe there will be the possibility of another entry that is as good as ours.
As you can see flat ABC's are very common in the market and they are a classical ''Bull Trap'' which occurs after a sell-off on a ''breakout''. Most traders would see this as a bullish breakout, but we are one step ahead and choose to sell at this point.
We are pretty confident with this trade since the first cycle contains exactly 5 waves which are required for the first correction of this impulse. Since GBP is very bullish a flat is nothing to be amazed of, since Flats mostly occur when the market is very bullish.
As always: You can read all information you need for your trade out of the chart.
We are looking forward to your feedback!
Have a good start into the week.
This is no financial advice.
RL from RT_Trading_
Today we are looking at are Forex chart as I think this could be an amazing swing opportunity for us. Sadly I didn't had the time to post this analysis when GBP hit our 124% entry which would be for you guys obviously the best entry too.
I suggest to entry sells, when GBP is done retracing the previous sell-off movement that saw on 124% extension. Maybe there will be the possibility of another entry that is as good as ours.
As you can see flat ABC's are very common in the market and they are a classical ''Bull Trap'' which occurs after a sell-off on a ''breakout''. Most traders would see this as a bullish breakout, but we are one step ahead and choose to sell at this point.
We are pretty confident with this trade since the first cycle contains exactly 5 waves which are required for the first correction of this impulse. Since GBP is very bullish a flat is nothing to be amazed of, since Flats mostly occur when the market is very bullish.
As always: You can read all information you need for your trade out of the chart.
We are looking forward to your feedback!
Have a good start into the week.
This is no financial advice.
RL from RT_Trading_
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.