GBPUSD: WXY Wave B(2?) complete?
Updated
Elliott wave idea is that we have completed a WXY complex 3 wave correction of the primary move up. The correction completed within the expected time, and almost reached the 0.5 retracement (B wave).
Entry was done on H1 when we had Bulldiv and entered using the Miner TR-1BH method.
Stop is below previous candle low.
Risk 0.2%
R 25.06
There is a fair chance that we still come back to touch the bottom of the channel and the 0.5 fib line. I will re-enter if that happens (will be stopped out).
If we continue up, I will add on the first retracement.
I will take 50% off at the 0.618 extension, and the remaining off at the 100%.
Let's see!
Entry was done on H1 when we had Bulldiv and entered using the Miner TR-1BH method.
Stop is below previous candle low.
Risk 0.2%
R 25.06
There is a fair chance that we still come back to touch the bottom of the channel and the 0.5 fib line. I will re-enter if that happens (will be stopped out).
If we continue up, I will add on the first retracement.
I will take 50% off at the 0.618 extension, and the remaining off at the 100%.
Let's see!
Comment
H1 had a nice bullish hammer candle. I entered right at the stochRSI bullish reversal on the H1.Disclaimer
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