Mrbruno
Long

Almost time to long the pound again

FX:GBPUSD   British Pound / U.S. Dollar
As seen in my analysis, we're currently in a flat, making a 5 wave to the upside to complete our C. Now expecting a correction to the downside to put in our 5th wave so then we could make a bottom and get a nice impulse to the upside (which should be short lived).
Jan 14
Comment: Leave a like and follow for more! I'm also on twitter, where i am frequently sharing my anaylsis as well (mostly active there). :)
Jan 15
Comment:
Jan 15
Comment: As the structure progresses i suspect that this breakdown will probably go lower than what i have put in on the chart.. maybe 1.291, then we bottom for the impulse.
Jan 15
Comment: either we top here or i'm just wrong on my whole analysis. Currently counting this as: (A) 3 wave move, (B) 3W and C as a 5W move, making wave 2 a flat. I will short again if we break 1.30200 with stops at 1.30300.
Jan 15
Comment: short again!
Jan 15
Comment: didn't go well again. after giving some more time for the structure to develop for further evaluation, i've come to conclusion that this last wave, has a high chance of truncation. As we can see, it's printing a series of higher highs with lower highs followed right after, making it a bullish structure. Also from an Elliott wave point of view, seems that it's creating a series of '1' and '2', giving me more confidence in my analysis. The pound has a high chance of bottoming here $GBPUSD
Jan 15
Comment: how i'm playing it
Jan 17
Comment: Looking very much like a leading diagonal to me. Of course, they are rare, but i can't rule out this possibility. Lots of confluence indicating that this could be the case. Expecting some retracement now so then we could get just one more push to the down side to put in our wave 2
Jan 17
Comment: sorry, expanding leading diagonal*
I like your count, it makes sense!

Keep up the good work.
+1 Reply
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