GBP.USD

[dumbass]

may be possibilty of 4th wave completion for a run north

divergence on q stick

bat prz

bullish engulfing

rising trend line support

low risk entry would be entry on wave 2 retracement with stop loss at 20350

[dumbass]

the weekly supports the case of further correction in gbp

evening star print and by a few pips wave 4 has overlapped wave 1

i would still trade from long side but get as close as possible to key support at 20350

and set a stop and reverse.

very interesting to see the outcome

[dumbass]

this trade clicking uo 350 pips , looking to close out and short

action has more of a feel of a corrective pattern

c wave of a (b)

gartley prz (2.0950 ISH) would provide a safe entry point for big move of c wave , first target would be

around 2.00

as always confirmation required and it may not make it to prz

[arco]

Nice trade DB........you are doing extremly well.

Cable - Agree, looks very much like a bearish scenario unfolding.
Getting short is at a low risk point with the potential of a move
into the lower pink box. Good R/R.

Interestingly the big brown box on the chart it the
'old brown moth' target from years ago (shown at
various times/places on this thread).

rgds - arco

[dumbass]

looks like south bound move underway

preferred count would be wave c

alternate count would even better iii of a 3

[dumbass]

650 pips on c wave so far

pausing at 4th wave consolidation before hitting lower channel around 2.00 - 2.01

would seem a good place to close shorts

[dumbass]

would now in my opinion be worth looking at short again

i was fortunate to see a good risk reward trade as the wave 4 retracement came pretty

close to wave 1 on previous chart

short at 2.05 sl 2.0540

aiming for original target around 2.00

[Craig3215]

This is the way I'm currently looking at GBP/USD, with an expanded flat correction we should be looking for a turn around where wave C is 1.618 the length of wave A, which according to my calculations this is around 1.955

[arco]

Hi Craig

That fits nicely with the BFs as mentioned earlier on the Eur.Gpb thread

rgds - arco

[dumbass]

bullish on gbp

currently in a 3 wave abc correction of wave 2 or b

looking to buy into retracement off downtrend line to ride c wave up target around 2.00 initially