exploration

Elloitt Wave Forecast GBP/USD ..... evaluations

FX:GBPUSD   BRITISH POUND / U.S. DOLLAR
470 10 0
This is a forecast i have been looking at..The GBP/USD             is shown breaking out at the bottom of the symmetrical triangle with the a Elloitt wave count
Please note this is a drawing of a rough est. to not be used for trading only for evaluations...if you have ideas or information please add to the comments....if the GPB/USD is going this way then the EUR/USD             is following.


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Still looking good for a sell 
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Infinitum
A Triumphant Ark Story that I am developing
http://flashfictionandbeyond.blogspot.com/2013/01/infinitum.html
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I changed my avatar photo to the Prime Meridian Greenwich England .. Price action is starting to look good again .
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Update: Price action looks to close on the top symmetrical triangle line that is drawn on the chart at 1.6158 area
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Price came close to but did not invalidate Structure E ....Price action has dropped 35 pips and is at 1.6275 at this time of this post...in my notes if GBP/USD keeps going down then the EUR/USD will follow . A rising wedge is forming on 1 day TF but is not mature yet to post it....Still price could go up and invalidate Structure E ...I hope not :+ )
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If price moves above 1.6308-10 then structure E will be invalid..... If price does go up the potential is considered limited to 1.6380 level....and if price goes up above 1.6746 the symmetrical triangle will become invalid. I am hoping for a sell to go to wave 5 as seen on the chart to 1.2585 area. Price at the moment of this post is 1.6251
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In the top chart there wasn,t enough room on the chart to make exact details of wave 5... or wave 1,2,3,4,and 5 are just an rough est. and is not measured with the the chart price points itself
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Summary on the bottom wedge and target area:The profit target 1.6276 was"invalidated" because of the break out point changed from the bottom wedge causing a new profit target at 1.6160 which was completed...this happened because when i post wedges before a break out happens the wedge may grow more before a break out happens then you will have to recalculate the profit target area from the break out point at the time of the break out :).... Word knowledge: " invalidated" defined as: Make (an argument, statement, or theory) unsound or erroneous.
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