Hi traders,
On the GBPUSD we have a potential harmonic pattern. Let's be clear about the fact that it is not a real pattern and that I don't trade the GBPUSD. I still think it's a nice setup. My entry is at the 127.2% Fibonacci extension of the ABC movement. Below that we have the 141.4% Fibonacci extension of that same move and the 161.8% Fibonacci extension of the ABA movement.
Entry: 1.23675
Stop: 1.23237
Target: 1.24879 = R:RR 2.75
Good luck traders!
On the GBPUSD we have a potential harmonic pattern. Let's be clear about the fact that it is not a real pattern and that I don't trade the GBPUSD. I still think it's a nice setup. My entry is at the 127.2% Fibonacci extension of the ABC movement. Below that we have the 141.4% Fibonacci extension of that same move and the 161.8% Fibonacci extension of the ABA movement.
Entry: 1.23675
Stop: 1.23237
Target: 1.24879 = R:RR 2.75
Good luck traders!
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