GBPUSD long. 1.6 would be a good long area. I would like to say low risk with a tight stop, but there could be a spike down to knock you out before it goes up again.
The lines drawn relate to clones so the move from jan 09 to jun 09 is cloned again now with two equal legs again (the 2nd leg forming v shortly back up to 1.84 ish. Unusual for a deep wave 4, but the weekly indicators are quickly unwinding.
Worth a shot just based on risk:reward. Price action too hard to analyse imho.
The lines drawn relate to clones so the move from jan 09 to jun 09 is cloned again now with two equal legs again (the 2nd leg forming v shortly back up to 1.84 ish. Unusual for a deep wave 4, but the weekly indicators are quickly unwinding.
Worth a shot just based on risk:reward. Price action too hard to analyse imho.
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