traderWgun
Short

Awaiting one more high to sell

FX:GBPUSD   British Pound / U.S. Dollar
251 2 4
The upside in this pair is limted in my opinion.
Will look to sell 1.7050/100 with a stop loss above 1.7200.
Target is open.

Alt. view would be a WXYZ:

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Good luck!
Does your alternate view also allow for one more new high
or that the price high has been reached and it's all down
form here ?
Thanks for your thoughts and wishing you a great week !
+1 Reply
traderWgun dojitrader
yes it does allow for another high, but the current structure favors the ending diagonal idea. Note that the ED could be a leading diagonal wave a with in wave Z, only a clean 5 wave decline would confirm a top is in place.
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