Third wave of the descending impulse is being extended | 12 May 2016
12 May 2016, GBP/USD
Decline appears to be inevitable in the near future.This drop is obviously caused by the extension in the wave 3 of a downward momentum.
In this case, drop may be abrupt and extended. For this reason, I opened a Sell trade with Stop Loss based at the local price level. For three times, buyers failed to cross this level.
This drop is obviously caused by the extension in the wave 3 of a downward momentum.
In this case, drop may be abrupt and extended.
For this reason, I opened a Sell trade with Stop Loss based at the local price level.
For three times, buyers failed to cross this level.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
