Relevance up to 10:00 2021-04-10 UTC+3
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.
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.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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