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Tuesday, 11 December 2012

GBP/USD H1 UPdate + TPI

Rationale:
Trading the triangle breakout up in anticipation of wave 5 to come or downbreak in anticipation of wave C.

Entry:

(1)Anything above 1.6095 is BULLISH an it looks like we can trade the wave 5 of C.
TP is SUPPLY AREA of 1.6118 - 1.6130
     
(2) Anything belowe 1.6073 is BEARISH and we can trade a downbreak.
TP is Weekly Pivot level of 1.6042

Both scenarios: TIGHT STOPS in case of fakeouts!
 

Take care,
Seb

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