Short Setup - Channel & Fib Confluence Zone

FX:GBPUSD   British Pound / U.S. Dollar
Patience pays.

The GBPUSD             has been on a long steady rise up, but finally a nice confluence zone to short into has presented itself on the 1H chart.

Targets for this move fall at major physiological support at 1.5000
I see letters A and B. Where are the Cs?
I leave the C's out otherwise the chart becomes too cluttered to read the price action. Essentially when a wave of a larger degree completes, that's where the C would have gone, but I've marked it as an A to indicated the wave of a higher degree. The letters are based on the elliott wave tool part of the tradingview platform and follows it's guide, but here is the guide just to make it easier to read.

(a) - Minuette
a - sub minuette
circle A - Micro
(A) - submicro
Waver __SpecialFX__
I know the degrees of waves, it's just confusing without all letters.
+1 Reply
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