EverythingForex

ANALYSIS: GBPUSD Post-FOMC. Still looking For That Bottom

FX:GBPUSD   British Pound/U.S. Dollar
1119 0 20
Keeping with the pre and post BIG NEWS theme, remember this post from 3 days ago?
ANALYSIS: GBPUSD: Looking For An Ending + An Apology

In that post, I said I was looking for prices to head down to finish the E leg of the larger descending diagonal better seen on this DAILY Chart::
snapshot

Well, from that post 3 days ago to now, before and after the FOMC , you can see that prices are moving pretty much as I had predicted it would. Now they are getting near to the bottom TL of that descending diagonal and also to finally filling that POTENTIAL Crab that has been there for weeks! When that does happen, I will be looking for signs of a reversal because IF that turns out to be a MAJOR LOW, then we could be seeing the beginning of a MASSIVE wave (C) up that I have been waiting impatiently for MONTHS NOW!

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**NOTE**
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*DISCLAIMER:
Please keep in mind that I am not giving any trading signals or trade calls here. Only providing my own trade thoughts for your benefit and insight as to my trading technique and style. Please don't ask if you should or should not take the trade or ask for stop loss and take profit levels. Any SL or TP given on my trades are my own I have used for my trade and are not recommendations for you to use. If you are not sure, then you do not have a trading plan for yourself in place. I suggest you make one before you continue to do any trading!

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