TRADE: GBPUSD: Sell@1.53200 Completed Bat + wave count

In following my overall scenario regarding this pair and following on the heels of the last failed trade I had on this pair (see Related Ideas section for both links), I am taking another SHORT trade on this pair here. The last failed trade turned out to be a trade of bad timing. I am still seeing that prices are headed down here but what I had failed to see was that my wave count was wrong for what I thought was supposed to happen.

Hopefully, with my updated wave count, I have corrected that mistake and now have the correct count. So I am taking another host at going SHORT for that butterfly completion as I ma expecting that prices will head down in the next few weeks to retest that MAJOR low set back in April (see my recent QUICK ANALYSIS on this pair in the Related Ideas section).

I have also posted TP's along the way. As prices reach each TP, I will evaluate whether to take any profits and if I will just let the trade run. My stops for this trade will be above the X point of the completed bat (yellow).

*DISCLAIMER:
Please keep in mind that I am not giving any trading signals or trade calls here. Only providing my own trade thoughts for your benefit and insight as to my trading technique and style. Please don't ask if you should or should not take the trade or ask for stop loss and take profit levels. Any SL or TP given on my trades are my own I have used for my trade and are not recommendations for you to use. If you are not sure, then you do not have a trading plan for yourself in place. I suggest you make one before you continue to do any trading!

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