CLOSED TRADE: GBPUSD: SELL@1.55950 Alternate Count +584 pips

FX:GBPUSD   British Pound / U.S. Dollar
837 5 21
I am now closing this trade as prices are now approaching an indecision point and this is my last post today. Middle of the night where I am and although I feel this pair still has some more downside to go, my TP2 is only a few pips away from being hit anyhow. So I didn't want to hold it overnight (for me anyway, it would be overnight).

So I am just gonna take the +584 pips and bag it. The next move in this pair is anybody's guess. In my last update, I presented and ALTERNATE Scenario for this pair (see Related Ideas: "UPDATE #1: TRADE: GBPUSD: SELL@1.55950 Alternate Count +241 pips") in which I showed a possible wave 3 to be next. But that is of course just one possibility. The other is that prices may continue down as in my original Scenario #2 in this chart below:

So at this point, prices are at a decision point. Which is why I will stand aside for now and watch and wait to see what the chart will say before I take another trade in this pair. Sorry to disappoint anybody who was expecting a trade idea from me!
Thanks to all ! But I hope my trade posting serves to help you all in your own trading. That is why I post here. Not to massage my ego. The praise is appreciated for sure but isn't why I post. But thanks, again!
+2 Reply
Great achievement !
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