empty
 
 
07.04.2021 12:47 PM
Trading idea for the GBP/USD pair

This image is no longer relevant

An interesting scenario happened in the forex market: the pound, after not generating profitable transactions for many months, formed a good buy level at 1.4.

This image is no longer relevant
To be more specific, since the quotes form an Elliot wave (ABC wave pattern) in which wave A is the upward initiative from March 24 to April 6, buyers can open transactions at 1.37900 and set off a 50% rollback towards 1.4. Limit, meanwhile, should be placed at 1.37200.

This plan follows the classic and trusted Price Action and Stop Hunting strategies.

Good luck!

Andrey Shevchenko,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback