EverythingForex

UPDATE #2:GBPUSD: Adding Completed Perfect Gartley Finish Wave 1

Short
FX:GBPUSD   British Pound / U.S. Dollar
In 2 of my previous posts on this pair, I had called for an end to wave (i) of wave C. Well, seems I was premature to say so and with the recent PA, I've had to re-analyze the sit-rep and reconfigure my wave count.

Recent PA also invalidated the POTENTIAL bullish cypher I had drawn before (I removed it now but if you want to see it, see my posts in Related Ideas section). The perfect Gartley is still valid and I've added an alternate .886 D point for the Gartley. To which prices have already hit. As can be seen here, .886 point is also the top of the trend channel prices are in. With the .886 Gartley D point and the top of the trend channel confluence, this could signal the beginning of the wave (ii) retracement I'm looking for.

SUMMARY

I was already SHORT from the perfect Gartley D point at .786 and since prices as it is are well within the PRZ of that Gartley, I am holding onto those SHORT positions anticipating a move down. I have actually added another SHORT position at the .886 D point and channel top.

*DISCLAIMER:
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Agree or disagree. Good luck!

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