EURGBP Wave Count: Short After Completion of Wave-(2)

FX:EURGBP   Euro Fx/British Pound
Hey traders! We have some big targets below. I want to ride the third wave, but only after the wave-(2) correction completes. We have some potential advanced patterns lining up that could make for good short entries. We may see a drop before a rally to pattern levels, so I won't go long here as this X wave has potential to drop back down to the base of wave-(X).
Trade active: Short taken at pattern completion and pinbar support. See new idea for updates:
EURGBP SHORT:  Pin Resistance At Completion of Bat & Gartley
Trade closed manually: Closed at Breakeven! The triangle continuation was accurate (see above trade idea), no pips lost nor gained. New wave count pending, stay tuned!
What about your SL and TP points?
glennmercer PRO TheBossHoss
Boss Hoss.. nice name! No trades yet. Just a wave count and watch levels. I will update when I take a trade.
TheBossHoss glennmercer
Nice, Thank you very much!!! I like your theory, and I am about the same targets doing the maths. However I am bit worry about the economic events coming next week and also the situation with German banks... but we will see how it will play out.
glennmercer PRO TheBossHoss
Yes, exactly. Expecting lots of volatility next week
Hi Glenn,

How can I identify the first wave. Where I can learn wave pattern. Can you please guide me
glennmercer PRO imdbesttrader
Send me a PM or an email, I'll point you in the right direction. Cheers
imdbesttrader glennmercer
Doji candle on the weekly chart backs up the bearish bias on this pair will be looking to short around the 0.87000 mark too. Although we should watch the fundamentals on this pair as its quite uncertain right now with both currencies lacking the strength to really push for a new trend bias. your analysis is great though i like it, happy trading, have a great week. :)
+1 Reply
Thanks Josh. And great call on the weeklly doji I hadn't seen that until you pointed it out. I took a short trade on this already. If SL is hit, I'll be looking at larger bat entry as you are. I have a very tight stop, see below:
EURGBP SHORT:  Pin Resistance At Completion of Bat & Gartley
joshy1132 glennmercer
i think we all fucked up on this pair lol
Just went in on that short too.. thumbs up
invalidation level is are target, how you miss that. That pair will try to test 0.88000 and then will go to retest 0.86500...........
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