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Saturday, 1 December 2012

GBP/USD H4,Daily & Weekly Update

Rationale:
 Buying in anticipation of another leg up seem to be good idea here, so if wave 2 looks like (a)(b)(c) Irregular Flat correction so far then buying into support 10 pips below the low of wave (a) can provide good R/R ratio in case I'm wrong (1.5951 - 1.5945).

On Fibo Time Cluster chart we can that next important cluster that might provide support in time for wave 2 bottom is on Monday 3rdDec 17:00-21:00.

Entry:
Buy Limit 1.5951 and 1.5918 ( in case of deeper pullback)
SL:10-15 pips.
TP1: 1.6010
TP2: 1.6050
R/R: 5:1

Take care,
Seb




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