FX:GBPUSD   British Pound/U.S. Dollar
154 14 6
5th and last wave for short is already fact!!!And guys, this is weekly chart...just imagine what will come?!?!?
Comment:
snapshot
monthly chart also is perfect for long...
Sorry, in the description I wrote ''5th and last wave for long'' my mistake, FOR SHORT.Now we wait for first wave for the new trend FOR LONG
Reply
Optimistic, with all the negativity surrounding the Pound......but I hope you are right......coz I'm British.
Reply
This market moves everytime on 5 waves...this is a rule, which fundamental data CAN'T CHANGE IT.Maybe the last, 5 wave will be more prolonged, but come on.. British pound drops already more than 2 years....I'm sure that long entry will be soon, just patience!
Reply
tomj2417 PRO tellmehellen
Agreed.
Reply
what is your price target for the long? and, what kind of confirmation are you waiting for before entering long?
Reply
tellmehellen pipstrading
When have divergence, but still waitin :) And I watched carefully for the waves :)
Reply
pipstrading tellmehellen
thanks for sharing
Reply
pipstrading tellmehellen
i am not that familiar with wave theory, but i saw that wave 3 could not be the shortest. Wave 3 here for GBPUSD happened to be the shortest. will this invalidate the 5 wave structure?
Reply
tellmehellen pipstrading
Sometimes this rule for that ''3 wave could not be the shortest'' is not valid everytime :) Sometimes as you can see the last 5th wave is longer that 3rd.If you take a look and attention on more currencies and their technical analysis will see that sometimes 1st and 5th wave are shorter than 3rd...In the perfect world maybe this rule would be true, but markets are not perfect ;) The most important way is to now how to count them and to know from where they start :) That's all and the time frame from which you count them!!!
Reply
pipstrading tellmehellen
thanks for your comments
Reply
tellmehellen pipstrading
always welcome :)
Reply
pipstrading tellmehellen
I check the chart again today. the whole move from 1.60 to 1.18 could be wave 3. what do you think? it might now move up to form wave 4. there is still chance for a wave 5 to go down to 0.95 level.
Reply
pipstrading tellmehellen
what do you think ?
Reply
tellmehellen pipstrading
Yes this is also a good scenario!I thought to wrote you this yesterday.Wave 2 and 4 everytime bounce on fib-levels and somethimes 2nd wave is sharper than 4th and vice versa.As u can see 2nd is not so sharp, so maybe this 4th can be :) But if you look on weekly chart that can be and 1st wave of the new trend....whether is 1st or 2nd scenario british pound will go up soon...but no one don't know when will be this. :)
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
日本
한국
Home Stock Screener Forex Signal Finder 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