Bearish Retracement | 19 Octubre 2016

19 Octubre 2016, GBP/USD

Retracements

Wave Analysis

Yesterday, the cable broke above the contracting triangle, headed long and is still pretty much bullish on the daily chart. we expect a possible count towards 1.239, that the current downward rally is a mere correction of the larger wave (c) and should not go beyond the lower trend line. In the meantime, we choose to remain flat and only buy the inner impulsive wave (c) upon a clear rebound from the immediate trend line. The anticipated buy position should have a target along the zone 1.2394-1.2438. Expect a similar wave count in EUR/AUD and EUR/USD. These pairs will have a similar price action during this intraday.

Trade Recommendation:

Wait for a rebound from the immediate trend line to go long with an ideal target at 1.239-1.243

Bob Stan
¿De acuerdo con la revisión?
Opinión de los comerciantes:
Close
Iniciar sesión
Su navegador no admite cookies. Si la cookie está desactivada en su navegador de Internet, es posible que tenga problemas con la representación del área Personal. Cómo habilitar el soporte para cookies.
manager photo manager photo
Online-support
Nos complacerá contestar cualquier pregunta que pueda tener

Escribir

Get bonus