glennmercer
Short

Short GBPUSD: Bearish Crab + Pivot Cluster + Wolfe + S/R

FX:GBPUSD   British Pound / U.S. Dollar
GBPUSD             has formed a potential bearish crab which contains a PRZ that coincides precisely with an unhit pivot cluster and a potential Wolfe Wave target. As profits are taken at the pivots , price may have a tendency to reverse quickly and drastically. SL is placed above a significant support and resistance area. Profit is taken at the PRZ of a potential bullish butterfly pattern confluent with a Wolfe Wave buy zone. If trade is triggered and target is hit, I will look for PA reversal signs at the bullish butterfly/Wolfe wave PRZ.

Confluence in the PRZ:
1. Bearish crab pattern completion
2. 3.14BC projection
3. 2.5AB=CD completion
4. Unhit monthly pivot for October, 2015
5 Unhit weekly pivot
6. Significant S/R area
7. Potential WW target

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