FX:GBPUSD   British Pound/U.S. Dollar
155 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...
what is your price target for the long? and, what kind of confirmation are you waiting for before entering long?
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tellmehellen pipstrading
When have divergence, but still waitin :) And I watched carefully for the waves :)
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pipstrading tellmehellen
thanks for sharing
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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?
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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!!!
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pipstrading tellmehellen
thanks for your comments
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tellmehellen pipstrading
always welcome :)
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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.
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pipstrading tellmehellen
what do you think ?
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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. :)
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