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This could be corrective zig zag up looking to move down..lets see if the pending sell gets taken
Price could be finishing off a zig zag correction before pushing up further...
Looking for the sell trade here..
Possible completion of a 5 wave move up.Looking to catch the correction down
The pound could be making a move up after correcting for the most part of the week
Possible BUY set up
Expecting price to continue correction to the downside or even resume trending down
Possible 3rd wave up after this correction, for a 1:1, R:R
Looking at good R:R if the expected zig zag correction has truly completed.
Looking at going LONG after that Zig Zag correction to 1222.00 levels
BUY trade on this possible 3rd wave impulsive move.
Still looking for a Sell trade on this move.
Believe this was a deeper ABC correction than earlier expected
If price resumes in the up trend, could be expecting price to move up much more.
Targeting a 1:1 R:R for now
Looks like the correction may have ended and a pending Buy in place for the up trend would be an idea
Possible Sell on the 'B' wave
Expecting for a start of a Wave B in a Flat Correction to the down side
Possible X wave (correction continuation) or a motive wave 5 maybe?
If price breaks to the upside, this could mean the continuation of wave 3 of 3 with a possible TP at the 2.618 Fib extension.
Good R:R >5
If price breaks through the top of Wave (i) could a nice long trade on Wave (iii).
R:R = 1
Placing a pending buy stop just above Wave (i) would be a good idea.