Looks great for Selling. Let me remind you that we have been selling GBP from TOP Structure level. Currently we are seeing bearish correction, Which is showing great selling potential. How GBP Index will Help us ?
If GBP = BEARISH
- XXXGBP = LONG
- GBPXXX = SHORT
GBP has been one of the weakest currencies for some time now and it's easy to see that from this chart The FX market has been quiet for the majority of the week and it looks like GBP tried to regain some ground albeit slowly It could continue to gain but the overall bearish channel is what I'm focused on. I'm watching for bearish setups on GBP pairs but waiting to...
WE HAVE 2 SCENARIO
IF SCENARIO 1 IS CORRECT = FIRST ABC WAVE IS COMPLETED AND WE WAIT FOR ABC WAVE UNTIL START WAVE A
IF SCENARIO 2 IS CORRECT = WE HAVE 5 WAVE NOW AND SHOULD WAIT FOR COMPLETED 5 WAVE
We are trading 4th leg of the predicted shark pattern. We are looking for price action to break the yellow trend line which will take us to out targets on the 1st and 2nd green zones, which will complete the pattern as well. NASDAQ:GBP