FullTimeTrader
Long

GBPUSD-final long term wave count

FX:GBPUSD   British Pound/U.S. Dollar
2371 6 25
Hello, after some time of studying and counting this pair this is now my final EW count i will use as a roadmap for next months.
Before going into details most important conclusion is that this pair has bottomed and now is about to start a strong rally for primary wave C (circled red).

Currently price is unfolding wave 2 (or B) right at the 0.61 fib retracement.

After a long term decline from Nov 2007 we can see three nice corrective channels with three almost perfect AB=CD patterns.

AB=CD pattern (red) : wave C (circled red) is unfolding now
AB=CD pattern (purple)
W=Y pattern (orange)

The rally from current price is starting this month and will continue till next year to complete wave C (circled red)

Best regards.
IvanLabrie PRO
a year ago
I was thinking along these lines some time ago. It's still possible.
Reply
tntsunrise TOP
a year ago
GREAT JOB! PERFECT WAVE COUNT
Reply
ImoneyCorp
a year ago
Am thinking of entering long on this pair now at the 1.513 since I believe we will see a breakout upward anytime. What do you recon.
Reply
FullTimeTrader ImoneyCorp
a year ago
I doubt price will get there according to my analysis, im staying aside right now with pending orders above 1.55000 regards.
Reply
IvanLabrie PRO FullTimeTrader
a year ago
Safest bet is the buy stop but if it drops a bit I'd consider a long as well.

Dollar isn't rallying vs everything...

snapshot

snapshot

snapshot

snapshot


Thin or massive volume zones are the strongest s/r levels.
Reply
Adhami
a year ago
agree
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out