TradingEW
Long

EURGBP alternate count

FX:EURGBP   Euro / British Pound
70 4 1
Present deep 0.764 retracement of previous range so far, has not discounted the bullish view with this alternate count.
In fact, this 3 waves down move looks corrective enough to be retraced eventually.
I like the look of your chart.

I was looking at this for an alternative

I have labelled current price action as an ending diagonal. I am looking at waves 1-4 of the ending diagonal done and wave a of 5 so one more low then up. This is the 4hr view
+1 Reply
TradingEW AnandYRaja
That's good charts and very probable with EURUSD presently dropping further.
While the following alternate count is also valid still, looking at a complex (4) alternate with simple (2), similar to GBPUSD last 12 months.

But great to have many alternate counts like yours for final decision.
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Hi there, how far down c before climbing up ?
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Sorry, missed your question earlier.
Depth of wave could go down as deep as 99% of & is still valid. ATM looks like it's reversing from 0.7019, with a bit of luck.
Good place to go long with SL under low at 0.7019.
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