EURGBP - Seeking Wave B to Complete before Impulse C
Technical indicators look good for a reversal once Wave B completes. Price Action is entering oversold territory around a .382 retracement of Wave A.
Rules:
IF wave B hits at least a .382 retracement AND RSI indicates oversold AND a reversal pattern/candle reveals itself,
THEN look for impulse C leg to retrace 1.0 the length of Wave A, taking profit 1 at .681 and profit 2 at 1.0.
One caveat to this idea is that fundamentals for EUR are strong while they are poor for GBP. In the short term this may cause a farther retracement to around .900
Disclaimer: My ideas are my own and not intended as investment advice.
Good luck!
Rules:
IF wave B hits at least a .382 retracement AND RSI indicates oversold AND a reversal pattern/candle reveals itself,
THEN look for impulse C leg to retrace 1.0 the length of Wave A, taking profit 1 at .681 and profit 2 at 1.0.
One caveat to this idea is that fundamentals for EUR are strong while they are poor for GBP. In the short term this may cause a farther retracement to around .900
Disclaimer: My ideas are my own and not intended as investment advice.
Good luck!
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.