theforexarmy
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The Definitive Elliott Wave Structure for GBPUSD (Daily TF)

FX:GBPUSD   British Pound/U.S. Dollar
FX:GBPUSD            
Graphical Elements : Bearish descending channel stretching back to 2015 July
Elliott Wave Structure : We're seeing a wave (5) ((3)) push down below fractal resistance at 1.4640


I specialize in Elliott Wave analysis for leading banks and hedge funds in 3 different countries.
I also run my own trading community that specialize in training successful full-time traders.
http://www.TheForexArmy.com
Comment: For long term, I personally prefer to sell closer to 1.4640 which is the irregular wave (4) correction with a perfect 1.0 elliott wave projection before seeing a further push down to 1.3320
Comment: Please note wave 4 is a 0.382 retracement, not a 0.316 (no idea how I accidentally typed that lol)
Trade active: Price is now on channel resistance, good time to sell with a stop above 1.4640
Comment: For short term, I'll play a drop to 1.4295 with my stop loss at 1.4425 (about R:R 1 to 4). From there i'll expect one more push up to 1.4640
Price is now on channel resistance, good time to sell with a stop above 1.4640
+1 Reply
bilk29 theforexarmy
thank you nice
Reply
Price is now on channel resistance, good time to sell with a stop above 1.4640
Reply
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