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.
Comments
max_andronichuk
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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
max_andronichuk
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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
chessnut
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yeah thanks for feedback, possibly could be an ABC. the news has just put other things out of proportion aswell.
charlie22
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the data out at 9:30 will send the pound rocketing
The recent false break to 1.7190 tells me this could very well be the top