FX:GBPUSD   British Pound/U.S. Dollar
56 11 3
Up..gogogo!!!
Do you know if this move is fundamental news related?
Reply
Casey_Yeo PriceActionTrading
2 years ago
UK election - Conservatives expected to win based on exit poll.
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PriceActionTrading Casey_Yeo
2 years ago
I see. So it is a "stay out" for now?
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Casey_Yeo PriceActionTrading
2 years ago
I will not put my hard earned money on any GBP pairs until next week. Technically, still favouring short. If the price action plays to my envisioned script, GBPUSD may shoot up to 1.5500-1.5600 (possible supply zone) before reversing. If price closes strongly above 1.5600, will look to buy on dip. Inverse head and shoulder seems to be in the making as well in daily chart even though the potential right shoulder is 'thinner' than left shoulder. Having said that, I only trade what price action tells me, not my envisioned script. :)
+1 Reply
PriceActionTrading Casey_Yeo
2 years ago
Yes bearish is also my thought. Just that this is not the right moment for it.
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rafaeldering
2 years ago
Great!!!

I am following this pair too, elliott waves seem to be simple.
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IvanLabrie PRO rafaeldering
2 years ago
Elliott Wave is NOT simple...true impulses are really rare, and counting waves can be too subjective, definitely NOT easy.
+2 Reply
PriceActionTrading IvanLabrie
2 years ago
I would agree with Ivan. People see different things. too subjective.
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IvanLabrie PRO PriceActionTrading
2 years ago
Well, insane gbp rally...Now trading the reaction to that, making a new chart.
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PriceActionTrading IvanLabrie
2 years ago
Selling now? or look to buy @ retracement?
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IvanLabrie PRO PriceActionTrading
2 years ago
Need to wait, not high enough for a sell, no chance for a retracement buy before I go to bed. I'll trade it before NFP.
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