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
Source | Elliott Wave NYSE And Forex Blog | http://elliottfxtrader.blogspot.com/2012/12/gbpusd-h1-update-tpi_11.html
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