The GBPUSD looks like this C wave is making an expanding ending diagonal ,selling the break for the 5th impulse is a good idea. If it is an abc then i'll be buying the breakout after a lower degree consolidation.
Comments
anilmangal
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Ok so we got the 5th wave what next!!? looking for a reversal or bigger correction to up side ,if it does that i'll post ,If it breaks the pattern and go lower i'll sell after any pullback . I am still expecting the up side .
Lindsay
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Wow, to think I can now understand this lingo. It is no wonder a trader cannot be understood out side this domain. Thanks Anil for your training, so now I can talk like this plus see what you are describing on the chart. The bonus is I also know what to do next.
taniab
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down move is it reversing?
Michael_Chia
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hi anilmangal, correct me if i'm wrong. but you're more bias towards the bullish side since we hit the 5th wave you pointed out?
anilmangal
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yes ,but I will wait for it to prove the up side before i make a trade. It is also possible this pattern gets broken in which case i will re-look at the new count .