GBP/USD Short, E/W and SharkPattern

FX:GBPUSD   British Pound / U.S. Dollar
38 0 1
Wave 2 retraced perfectly to the typical 61.8, nothing bullish about this chart in my opinion...breaking thru 1.5150-65 support as I speak, not much support till 1.50ish, W3 projection lines up with the 161.8 and 78.6 at 1.4850ish. A typical 38.2% retracement for W4 will bring us back to current support, future resistance 1.5165.

W4 shouldn't encroach in W1 territory so if count is correct, stops can be placed just above 1.5165 for a projected move to support at 1.47 which matches perfectly with the .886 and 161.8 and completion of the shark pattern!

I wouldn't be jumping into a short now based on this given the lack of any significant pull-back, it won't go down in a straight line, perhaps if 1.5130 breaks or there is a pull back to 1.5330-40. This would be ideal

I don't trade patterns and my EW is amateurish so let me know what u think!
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out