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
snapshot


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
snapshot
+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.
snapshot

But great to have many alternate counts like yours for final decision.
Reply
Hi there, how far down c before climbing up ?
Reply
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.
Reply
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