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.
charlie22
2 years ago
the data out at 9:30 will send the pound rocketing
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chessnut charlie22
2 years ago
maybe. what makes you think it should?
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charlie22 chessnut
2 years ago
Wait and see my freind...
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max_andronichuk
2 years ago
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
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chessnut max_andronichuk
2 years ago
yeah thanks for feedback, possibly could be an ABC. the news has just put other things out of proportion aswell.
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max_andronichuk
2 years ago
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
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