TimStuyts
Long

GBPUSD almost ready

FX:GBPUSD   British Pound/U.S. Dollar
142 1 0
Have a look at my bigger picture first for context.

GBPUSD bottoming?


We curently see some kind of wedge formation unfolding after triple divergence. Now I will be looking for a break out and consolidation/correction. This will be a wave 1-2 pattern targeting the wave 3 higher.

The more aggresive entry will be on the 15min chart.

snapshot


This will be the same approach and might give an opportunity to trade the 1hr break out potential from the start. If it decides to move lower making new lows I will look for it to settle and give this kind of set-up again.
only once it break below the low of April 2015 I turn bearish .

In terms of Elliott Wave count, we are looking for a 5 wave pattern higher (impulse), 3 wave correction and then buy for a long term buy potential.

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TimStuyts
GBPUSD bottoming?
TimStuyts about GBPUSD 1 11 months ago
TimStuyts
11 months ago
Trade didn't get triggered and we saw that new daily low which might change the short term bias depending on whether it will be followed by an impulse lower. Updates will follow.
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