aerocom21
Short

GBPUSD Ending Diagonal Complete

FX:GBPUSD   British Pound/U.S. Dollar
93 1 1
The GBP$ has completed a diagonal that ended in a wave 5 diagonal. Price has subsequently broken the wave 5 of C ending diagonal . The retrace will likely tak price to the underside of the lower trend line before moving down to the 1.60 to 5900 area.

A conservative trader would enter short in the 1.6400 area on a break below the C wave diagonal lower trend line with a stop at 1.6605 with a target in the of 1.5908 for a 1:2 risk to reward ratio.

Good Luck.
aerocom21, what do you think of the following count:

snapshot


We may possibly still be in the midst of completing the diagonal, no?
Reply
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