chessnut
Long

GBPUSD primary wave down. Possibly a big turning point.

FX:GBPUSD   British Pound/U.S. Dollar
239 6 1
Here is an EW illustration of a possible primary wave down in the GBPUSD             . This could mark the end of a long upwards cycle, and holding short below 1.7 could prove an extremey profitably long term position. Looking for a clear abc pattern to play out before going aggresively short. hopefully we will see a . 618 retracement .
I've just posted my own Elliott Wave count on the GBP/USD, feel free to have a look and tell me what you think.

The recent false break to 1.7190 tells me this could very well be the top
Reply
I think it's a good effort but I would say that your proportions of waves ii and iv seem out... thus I suspect this count is not likely to be a clear impulsive wave. But an interesting chart non the less
Reply
chessnut max_andronichuk
yeah thanks for feedback, possibly could be an ABC. the news has just put other things out of proportion aswell.
Reply
the data out at 9:30 will send the pound rocketing
Reply
chessnut charlie22
maybe. what makes you think it should?
Reply
charlie22 chessnut
Wait and see my freind...
Reply
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
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
Profile Profile Settings Account and Billing Priority Support Ideas Published Followers Following Private Messages Chat Sign Out