FX:GBPUSD   British Pound / U.S. Dollar
56 11 3

I am following this pair too, elliott waves seem to be simple.
IvanLabrie rafaeldering
Elliott Wave is NOT simple...true impulses are really rare, and counting waves can be too subjective, definitely NOT easy.
+2 Reply
I would agree with Ivan. People see different things. too subjective.
IvanLabrie PriceActionTrading
Well, insane gbp rally...Now trading the reaction to that, making a new chart.
Selling now? or look to buy @ retracement?
IvanLabrie PriceActionTrading
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.
Do you know if this move is fundamental news related?
Casey_Yeo PriceActionTrading
UK election - Conservatives expected to win based on exit poll.
I see. So it is a "stay out" for now?
Casey_Yeo PriceActionTrading
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
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