EverythingForex

ANALYSIS: GBPUSD: Looking For An Ending + An Apology

FX:GBPUSD   British Pound/U.S. Dollar
1584 15 31
First thing I want to say is...For the TROLLS who seem to think they DESERVE everything for FREE, DON'T even bother reading my posts! This isn't for you undeserving, useless parasites! Go do your own analysis and by all means, DON'T FOLLOW ME! I guarantee you my feelings won't be hurt! My apologies to all those who enjoy, follow and get something useful out of my posts. I know I have been rather confrontational lately with my responses to these TROLLS and I hope I have not offended anyone. But seems I've been the target of these TROLLS lately. I'll try to not let them get to me and discourage me from continuing to post here in what is for the most part a great community of traders helping traders. You've no doubt noticed that I am not posting as often as before and battling these TROLLS is a big reason why. On to what matters......

This pair has baffled me on much more than one occasion. And recently is no different. In my last post on this pair, I was WAY OFF again and luckily, I did not take any trade off my analysis. But that is now neither here nor there as far as relevance to what is happening now is it? Only thing that matters is what's happening in the present time.

So here is what I see happening. Given that I've not had a great track record on this pair as of late, take it for what it's worth.

Prices are at the moment finishing up a contracting triangle wave (iv) within a large descending diagonal (blue TL's). This wave (iv) is also the D leg of that diagonal. Since I'm seeing this as a D leg, then there is to be an E leg back down to come to finish that descending diagonal. That E leg should see prices descend down to meet the bottom TL of the diagonal where it will complete the wave (v) of the larger wave C of (B) corrective wave (see the Daily Chart below for more detail on the larger waves).

PATTERNS
There is a POTENTIAL Cypher pattern that has still not been filled yet. This small move up into the upper TL of that larger descending diagonal should fill that cypher and mark the completion of the contracting triangle wave (iv). If and when prices decline in the E leg and the wave (v), then when prices meet the lower TL, it will complete a POTENTIAL Crab pattern and that crab should mark the end of the E leg and the wave (v) and could mark the beginning of the MAJOR WAVE (C) corrective wave up.

DAILY CHART - Unfinished Diagonal
This diagonal that I have been charting for months now is STILL not yet done. By my wave count, there is one more leg down to go before we will get to see the HUGE wave (C) up that I have been waiting to see for MONTHS now. There is also that POTENTIAL Bat that is waiting below.
snapshot

MY TRADE PLAN
I will wait for prices to finish the wave (iv) contracting triangle and then wait for a SELL Setup. Then I'll sell into the E leg down. But I will be watching for a SELL SETUP before I do sell because who knows? It may continue on up from there instead making my wave count wrong. So it's important to watch the price action             for confirmation of a sell before jumping in.

Though I may not post here quite as often like before, I do continue to post much more to my own Facebook             group (where I can BAN any TROLLS!). So if you would like to continue to see more of my posts as well as some of my trading tips, join my Facebook             group at: www.facebookdotcom/efxselect (replace the "dot" with a ".")

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what a great job! actually if i don't say my thankful is like an ingratitude.

10x.
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Thanks for the analysis!!
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Mughal2657 EverythingForex
agree everythingforex with you
+1 Reply
Mughal2657 EverythingForex
keep doing good work
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Mughal2657 EverythingForex
Good Bless you
+1 Reply
thanks for the support!
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