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Boon2
Jan 20, 2020 3:49 AM

GBPUSD H1 C Wave Down. Short

British Pound/U.S. DollarFXCM

Description

In my last M30 idea I had the possibility of the running flat as my ALT count, I looks like this scenario is how price wants to play our. see pic.


H1 We can wait for a bear flag or correction for the scalp down to the 100fib. We will have to watch that area for the possible turning point for the larger C wave up completing the H4 B wave.

My H4 idea hasn't really changed at this stage, it is still a regular flat correction in the wave B but we need to be mindful that now there's a high possibility the corrective structure may change from a regular flat to a running flat correction in the B wave with the low getting broken. Checkout my H4 idea to get the complete picture thanks.


Good luck and trade safe!

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Comment

M15 Wave C Down idea, check it out to get up to speed on the lower timeframe thanks.
Comments
algoffar
Thanks for sharing really helpfull Man.
Its also forming wedge, high propability to move up
Keep it up
Boon2
@algoffar, Cheers, yes i think we should get a nice buy once this H1 C wave down complete.
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