FX:GBPUSD   British Pound/U.S. Dollar
827 16 24
50% REJECTION.

BUY @ BREAK OF TRENDLINE RESISTANCE.
ONLY GO LONG AFTER D1 CLOSE ABOVE TRENDLINE RESISTANCE.
THIS IS IMPORTANT, AS PRICE COULD ALSO FAKE THE RESISTANCE AND TUMBLE FURTHER DOWN TO 61.8%.

NO UPDATES IF LESS THAN 20 LIKES.

SCENARIO 2 :
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Daniel.B
a year ago
I like the idea, thanks for the post bro! =D Cheers
+1 Reply
PriceActionTrading Daniel.B
a year ago
Yea thanks. See scenario 2 too bro. But close above resistance means scenario 2 wont happen !
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P_Parker
a year ago
Nice Idea, I was looking for a Pinbar rejection the Support, but Price Action did not give me one.
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+1 Reply
PriceActionTrading P_Parker
a year ago
Yea thanks. See scenario 2 too bro. But close above resistance means scenario 2 wont happen !
+1 Reply
URIFX
a year ago
Agree on both scenarios! Here is my chart

Gbpusd update: buy wave 5 @ breakout
+1 Reply
PriceActionTrading URIFX
a year ago
Nice counting. 3rd is always the longest wave. criteria met.
+1 Reply
Andyle
a year ago
Nice plan mate. Thanks
+1 Reply
PriceActionTrading Andyle
a year ago
Yea. Good luck.
Reply
UPDATE 1 : SCENARIO 2 MOST LIKELY. LOOK FOR BULLISH REJECTION PATTERN @ 1.5400 - 1.5450.
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UPDATE 2 :
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UPDATE 3 :
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+2 Reply
URIFX PriceActionTrading
a year ago
I consider other scenario that price may retract 100% or more....
GBPUSD update: Wave Structure had changed?
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PriceActionTrading URIFX
a year ago
Yea. If prices closes below 61.8% tonight, then this idea will be invalidated. We will look for other setups, possibly 88.6 - 100% yea.
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UPDATE 4 : THIS IDEA IS PRETTY MUCH INVALIDATED UNLESS SOME MAGICAL BULLS APPEAR OUT OF THE RAINBOW. I.E. GBP IS BEARISH.
+1 Reply
Andyle PriceActionTrading
a year ago
In short GU, GJ, UC now.
Reply
PriceActionTrading Andyle
a year ago
Nice. Following the trend. Very possible
Reply
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