GBPCAD, 4hr tf, sell Wave-3 extension wave
Hello my friends,
Another plan for GBP crosses pairs.
We got GBPCAD to trade as well for today.
But i am still waiting for price to touch around 1.7200 before entering sell.
I use a sell limit order for this pair because it might hit my trade when i was not watching it.
As you can see this pair is bearish in my opinion.
GBP is very fragile right now because there is fundamental Brexit issues.
If we do an Elliott Wave count we could assume that we're now on Wave-3 extension.
Inside this extension there is a good setup to trade as well.
Wave-3 is not finished yet because we still got wave-iv and wave-v to complete this Wave-3.
Wave-iv is on the process and might completed soon.
We are going to use wave-i area as our stop loss because we're trying to use Elliott Wave rule for 4th Wave.
Sell limit GBPCAD 1.7195
Stop loss 1.7255
Take profit 1.6925 (4.5R)
RR ratio 1 : 4.5
Use only 1-2% risk
Good luck
Check my GBPAUD plan as well on the link provided below.
If you find my post useful, give me a thumbs up and follow me for the next updates.
Another plan for GBP crosses pairs.
We got GBPCAD to trade as well for today.
But i am still waiting for price to touch around 1.7200 before entering sell.
I use a sell limit order for this pair because it might hit my trade when i was not watching it.
As you can see this pair is bearish in my opinion.
GBP is very fragile right now because there is fundamental Brexit issues.
If we do an Elliott Wave count we could assume that we're now on Wave-3 extension.
Inside this extension there is a good setup to trade as well.
Wave-3 is not finished yet because we still got wave-iv and wave-v to complete this Wave-3.
Wave-iv is on the process and might completed soon.
We are going to use wave-i area as our stop loss because we're trying to use Elliott Wave rule for 4th Wave.
Sell limit GBPCAD 1.7195
Stop loss 1.7255
Take profit 1.6925 (4.5R)
RR ratio 1 : 4.5
Use only 1-2% risk
Good luck
Check my GBPAUD plan as well on the link provided below.
If you find my post useful, give me a thumbs up and follow me for the next updates.
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