Elliottwave Intraday analysis: EURGBP trading on decision point

26 May 2017, 07:49
hoagtrading
0
58
Talking Points:
  • EURGBP Technical Strategy: On break of trending line, it will be bullish else temporary bearish
  • Elliottwave Count: Correction is too short to mark complete, however price will take decision on trending line.
Analysis

EURGBP is trading in sideway and on weekly chart, it need to complete it's wave C (last leg of correction), however, same time price completed it's expected fibbo zone of 38.2% 8300 area with very...continue reading.

Action
We are initiating short @ 8690 with stoploss on 8750 target 8010.

Disclosure: All analysis posted here is for educational purpose to understand elliottwave and trading principals. Authors is not providing any trading recommendation in this article. Trader need to take call based on his/her risk after taking consideration of your investment objectives, level of experience and risk appetite. Most importantly, do not invest money you cannot afford to lose.Any opinions, news, research, analyses, prices, or other information contained on this article are provided as general market commentary, and do not constitute investment advice. Author is not liable for any loss or damage, including without limitation,

HTG

Share it with friends: