glennmercer
Short

GBPUSD Short: Ride Wave-((5))

FX:GBPUSD   British Pound/U.S. Dollar
GBPUSD             may be in the midst of a continuation from its wave-iv correction. In order to ride the wave, I've placed a tight stop directly above the potential completion of wave-iv. There is a slight chance that the correction could go higher, but no higher than the invalidation level. A looser stop may be placed above invalidation. Will update as the tide rolls.
Trade active
Comment: T1 Achieved
Trade closed manually: If you have not taken profit at T1, exit at B/E. We should be seeing a fourth wave triangle. Updates to come

Hi Glen, I was actually on same trade but got stopped at 1.30.
After seeing your setup I'm going to wait for a better entry more near the invalidation area if we get there.

Thanks
+2 Reply
Great call. There's always a chance that this is not actually wave-i, but instead wave-b and you can get a better bargain up near the invalidation level. Patience of chasing! Nice
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glennmercer PRO glennmercer
Patience over chasing*
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sir pl look on usoil at current momemen because it is now at do or die level pl update your view sir cardial request
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glennmercer PRO lipikacrude
Here is the updated count. Looking for shorts after the first small rally to fifth wave is complete:
USOIL Wave Count Update: 1H Zoom-In Edition
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