EverythingForex
Short

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!

PATTERN
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

MY TRADE PLAN
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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*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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Great trade......
+1 Reply
thanks. Long ways to go yet and still will have many ups and downs. Hopefully, more downs!
+1 Reply
What about EURGBP
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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.
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EverythingForex PRO EverythingForex
facebook.com/efxselect.com
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muhammad.bh EverythingForex
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Sorry! Try this: http://www.facebook.com/efxselect
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Veri nice analyiss... Thanks !
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thanks!
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Hey,
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) :)
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