If price closes under the major resistance line, could be looking for the exchange rate to plummet south on a C corrective wave.
Yorum:
(Journal) Bullish Harami formed which pushed price higher. Ideally I should've placed a support line at the end of the wick of the previous daily bearish candle. Then I would've acknowledged the candlestick pattern formation but it's calm, I didn't enter after foreseeing what gbp fundamentals had in store for me yesterday. In contrast, my GBPCAD trade outperformed.
I have to admit, this Elliot Wave analysis was awful, I have no idea why I thought the first 1st-2nd wave is an actual wave. If anything the 3rd-4th wave makes more sense where I decided to draw the ABC Corrective Wave. Now as price continues to surge higher to form the 4th-5th, we're more likely to see some correction in price.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
I have to admit, this Elliot Wave analysis was awful, I have no idea why I thought the first 1st-2nd wave is an actual wave. If anything the 3rd-4th wave makes more sense where I decided to draw the ABC Corrective Wave. Now as price continues to surge higher to form the 4th-5th, we're more likely to see some correction in price.