EURGBP ELLIOT WAVE ANALYSIS
VIEW:
EURGBP has been in down trend for a while ; now showing some symptoms in the lower time frame (2hr) as if its ready for a bounce as per Elliot Wave Analysis.
STRUCTURE/PATTERN/ Technical Event:
# Impulse(1-2-3-4-5)+ correction sequence;
# Trendline breakout possibility near invalidation point or near demand zone
# Accumulation symptoms near Demand Zone.
Trading plan:
#for seasoned traders:
Entry with breakout confirmation with SL below "Invalidation point".
one can exit if trades single lot @ first target; multiple lots can be exited 70% at the 1st target and the remaining @ the 2nd target
Risk Management:
never risk more than 2% of one's trading capital....for the entire trading portfolio....
Good luck
EURGBP has been in down trend for a while ; now showing some symptoms in the lower time frame (2hr) as if its ready for a bounce as per Elliot Wave Analysis.
STRUCTURE/PATTERN/ Technical Event:
# Impulse(1-2-3-4-5)+ correction sequence;
# Trendline breakout possibility near invalidation point or near demand zone
# Accumulation symptoms near Demand Zone.
Trading plan:
#for seasoned traders:
Entry with breakout confirmation with SL below "Invalidation point".
one can exit if trades single lot @ first target; multiple lots can be exited 70% at the 1st target and the remaining @ the 2nd target
Risk Management:
never risk more than 2% of one's trading capital....for the entire trading portfolio....
Good luck
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