CORRELATION - PATTERN TRADE SETUP- ELLIOT WAVE (60m)

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Euro / Libra Esterlina (FX:EURGBP)

FX:EURGBP Euro / Libra Esterlina

#pattern forexsignals Fibonacci extension 127.20 charliefx SELL reversal Elliott Wave correctionwave

#pattern forexsignals fibonacci extension 127.20 charliefx sell reversal elliottwaves correctionwave

Morning!

Looking at the correlations in excel for today, EUR/USD + GBP/USD have a very positive correlation (93.9) for the hourly

This means USD is countered, i.e it becomes EUR/GBP >

also waiting on retracement from the FIB EXT level of 127.20%, this will complete D,
and will be a good time to sell if the price reverses from that area.

Elliot Wave - I have included a correction, (0ABC)

Be conservative on your trading, and look for entry points around the white line (0,72887) via a retracement of 127.20%!

All the best in your trading!

CharlieFX

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