Here is a potential long entry for GBPUSD. I have marked the Aggressive, Moderate, and Conservative Entries.
Aggressive Entry - With more potential downside to 5" an entry at 5' is high risk.
Moderate Entry - A break above the 1-3 trend line confirms the upward move and would be a solid entry.
Conservative Entry - A break above point 3 would be a safe entry for a long position confirming a break above the second structural resistance level.
A proper exit level would be at point 4 where we will see the GEO OFF-SET rule complete. If we hit 5" look for point 3 as your exit.
For more information on the Wolfe Wave pattern please visit: www.tradingview.com/u/4xForecaster/
I must give credit where credit is due. He is a great visual teacher, I am merely a student.
Aggressive Entry - With more potential downside to 5" an entry at 5' is high risk.
Moderate Entry - A break above the 1-3 trend line confirms the upward move and would be a solid entry.
Conservative Entry - A break above point 3 would be a safe entry for a long position confirming a break above the second structural resistance level.
A proper exit level would be at point 4 where we will see the GEO OFF-SET rule complete. If we hit 5" look for point 3 as your exit.
For more information on the Wolfe Wave pattern please visit: www.tradingview.com/u/4xForecaster/
I must give credit where credit is due. He is a great visual teacher, I am merely a student.
