I wanted to share this idea on GBPUSD.
After a sharp impulse I am sure we had an ABC correction and a new impulse is going to develop.
Target is the -0.27 of the fibo.
Trade the breakout and you can get a nice 170 pip profit.
End of corrective phase(ABC flat) on EU and new lower high established.We have fibonnaci confluence with the 3rd rejection of the H4 descending trendline. Looking for another impulse move down to the 1.02500 area to form new Lower Low.
Hello! I hope everyone enjoyed the holidays! I picked up a few books on EW and a lot of my ideas are updates as I progress my understanding of the EW principle. Thanks for feedback so far, the likes and comments! Let me know what you were thinking! If you like the idea give a thumbs up and if you had an idea post ...
We can see price has been consolidating for quite a while. It's only a matter of time before the next big impulse happens and I want to catch that move when it happens. Going to watch on lower TF for an entry! If you're with me heck yeah and If not let me know whatchu thinking :)
Pretty Simple, seems to be in a ABC correction after a series of Impulse waves! Waiting for the "big short" :) move down. Thanks for checking out my idea! If you wait for a good sell setup you can catch a pretty darn good R/R ratio!