FX:GBPUSD   British Pound/U.S. Dollar
51 2 1
Maybe this is the beginning of a major trend reversal to the downside?
Seems like a reasonable count with one exception:
The last w-x-y is probably another 1-2 as I think,
but, I'd need to research, a valid w-x-y requires that
y be higher/lower than w.
Perhaps you are more knowledgeable and can confirm
one way or another.
Thanks for your thoughts !!!
Reply
Thank you for the positive feedback. This chart can definitely be labelled in an alternate fashion, but I suppose the main goal was to align our positions to the short side with a reasonably tight stop. Hope you made a few bucks on this one too!
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