GBPUSD is still in a correction stage as it has finished the B wave where it is an irregular wave and a trap for some traders as it broke the previous swing. Wave C in WAVE B was 5 waves where wave 3 is 150% of wave 1, and wave 5 is 100% of wave 1! which makes it an ideal 5 elliot waves.
Trade active
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It made another irregular correction, however i'm still bullish on the GBPUSD if it breaks the 1.2230, it will cancel my signal. other than that we are still bullish
Trade active
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There was a lot of selling pressure, however it didn't break the 1.2230 level by closing below it and closed exactly at the 100% level of wave 1 length as my drawings with a great pin bar which gives more credibility for my counting. the only mistake i made was the stop loss level as i didn't expect the huge selling pressure when it reached my level at 1.2282 my positions are still open and still positive about this signal. good luck everyone :)
Lets hope post holidays things work out.I have a similar target of 1.30
puravsheth
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idea seems good...but every rise is facing selling pressure
Fox_25
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@puravsheth, yes there was a lot of selling pressure and a trap from investors so they can buy more at the lowest prices. if you look at the daily close candle shape, it shows how they closed it exactly at the 100% level for Wave 1 which makes it very valid level and my calculations are absolutely right! i'm still positive about it and my positions are still open.
youtube.com/watch?v=qNQUhqFZ3h8
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