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Lionheart-EWA
Dec 22, 2022 9:02 AM

GBPUSD Bearish Impulse - Minor C Short

FX_IDC:GBPUSD120
BRITISH POUND / U.S. DOLLARICE

Description

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GBPUSD is starting a Bearish Impulse in Minor C (orange).

Wave B (orange) is most likely a Running Flat.
However, based on Elliott Wave patterns, it could also reflect as an Expanding Flat.
But I don't think so.

I am going short on the Pound Dollar.

GBPUSD tech. Analysis:

* Elliott Wave: Ending Diagonal on Intermediate (C) (white).
* Running Flat in Minor B (orange)
* Sep '20 Bearish Fractal
* 38.2% Fibonacci Retracement of Minor A (orange)
* Up-Trend Breach
* Channel Consolidation

GBPUSD Trading Signal:

* Entry @ 1.2170
* SL @ 1.2500
* TP1 @ 1.1800 / TP2 @ 1.1600 / TP3 @ 1.2500

* BUY STOP @ 1.2050
* Aggressive Entry @ Market Price
* Moderate Entry @ 1.2320

*Safety Measure: when in the green, moving SL to BE.

Many pips ahead!

Richard, the Wave Jedi.

Trade active

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Comment

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Small mistake:

* SELL STOP @ 1.2050

Not buy stop LOL ... :)))

Comment

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GBPUSD started the Bearish Leg, a B Wave correction.

Trade active

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Added another SHORT on GBPUSD, at the 61.8% FR.

Comment

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Short set-up looks promising.

Trade active

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Sell Stop active on GBPUSD.

Comment

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GBP ready to pop soon.

Comment

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Daily confirmed, just look up on the previous updates.

GBPUSD started the C Wave Impulse, for the B.

Comment

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Placed another Sell Stop on GU.

Comment

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Don't be afraid on this fake swing Richard, just short it again!
Elliott WaveFibonacciParallel ChannelGBPUSDgbpusdshortrunningflatgbpusdsignalgbpusdsellpounddollarcable
Comments
JoeChampion
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How do you define your target?
Lionheart-EWA
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@JoeChampion, I am using Fibonacci Retracement and Extension.

In this case, Minor A with B (orange) with the Extension to connect the Fib. Retracement of the overall Bullish move from the bottom.
Afsars
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I think It's not a buy stop @1.2050
It's a sell stop may be...😊
Lionheart-EWA
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@Afsars, Oh shoot! Yeah! My bad, mistake there.

Sell Stop for sure. :)))))
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