TRADE: GBPUSD: SELL@1.54279 Wave 3 of 3 of 3 Coming?

FX:GBPUSD   British Pound/U.S. Dollar
2581 22 55
Here is another very good low risk setup that could be providing some major pips! Why am I saying this? Well, simple. Wave count. So if it is my wave count that is showing me this great opportunity, then let's start there.....

WAVE COUNT - Showing A Possible Wave 3 of 3 of 3 Coming!
So why is it that I am seeing a possible 3 of 3 of 3 coming? This decline has been developing in a back and forth swinging manner. And what I am counting is that prices are now already in a wave 3 down. Within that wave 3 down, the wave (i) and the wave (ii) seems to already have been finished. And then the wave ( iii             ) started. Within that wave ( iii             ), the wave i and the wave ii seems to already be finished. That leaves the wave iii             of ( iii             ) of 3 yet to come! Can't get anymore 3ish than that!

There is still that POTENTIAL crab that still is waiting to be completed. It is pointing the way down for that wave 3.

Here's the DAILY CHART view:
GBPUSD: DAILY Chart - Wave Counts Showing A Sharp Drop Coming

I am now SHORT on this pair AGAIN from 1.54279 anticipating this wave iii             of ( iii             ) of 3 to get underway. It could very well be a very powerful move. I'll put my stops up there somewhere above the end of wave ii. TP1 will be at/near that minor sr structure.

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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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Hi, thanks for the analysis. I'm short GBPUSD and EURGBP since yesterday's GB PMI data. Thanks for adding confidence.
colinsheen PRO colinsheen
short GBPUSD and Long EURGBP i mean.
You're welcome. But just be careful to not be overconfident and always be ready for anything! As Bruce lee said, "Be like water".
+2 Reply
thousand waves from thousand traders, if do this trade, I think I will set SL @1.566, regards.
There's a reason I set my stops where I set them. I don't set stops willy-nilly. But every trader needs to decide for themselves and not go blindly following anyone else. Of course, there will be many different opinions. This is what moves the markets. So a thousand waves from a thousand traders? I don't mind. Make it a 1001. Post your own analysis! GL!
+1 Reply
Short on this one as well mate.My position is at 1.54300.GL!
Great Analysis.. I love it...
Thanks! and GL!
what is this method referred to? i want to try and learn it for myself :) I am new and i want to grow so i would like to find out what you call this method of analysis (i know it technical but this in specific) :)
Well, it is my own strategy. Not something I learned from anywhere. Basically, I combine wave analysis with harmonic patterns analysis. I use both wave analysis and pattern analysis in my own unique methods though.
lukakokot EverythingForex
AH! Alright! woaw! that is quite astonishing! do you offer a mentoring service? I would love to learn from you :) I am new but I know the basics of everything but I really would like to step it up :)
Yes, I do offer one-on-one mentoring program instead of a course. I think that mentoring will help people learn and get up to speed the fastest. Go here for more info: http://eepurl.com/bEGJ8L
Veri nice analyiss... Thanks !
What about EURGBP
I do not trade EURGBP so I do not know. But if you want me to do an analysis on it, you can subscribe to my service and request a consultation on it. At the very least, join my facebook group. If there is enough demand for it, I may post a brief analysis on it.
EverythingForex PRO EverythingForex
+1 Reply
muhammad.bh EverythingForex
Not working
Sorry! Try this: http://www.facebook.com/efxselect
+1 Reply
Great trade......
+1 Reply
thanks. Long ways to go yet and still will have many ups and downs. Hopefully, more downs!
+1 Reply
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