For my previous post and context about the GBPUSD see link below:
I consider the current price action to be a consolidation of the last bearish impulse. This correction unfolds in the shape of a Flat correction and I therefore don't expect wave C to retrace a lot more than then the length of wave A. This is not written in stone and only a guideline but something to keep in mind when trading this pair.
I like the confluence between -1.272 Fib as well as the recent lows in the 1.315 zone. Wave C should have 5 inner waves and selling out of this 1.315 zone from lower time frames after divergence is what I'll be looking for.
updates will follow
www.timstuyts.com
www.facebook.com/timstuyts.com
www.youtube.com/watch?v=HvmWTm4f...
I consider the current price action to be a consolidation of the last bearish impulse. This correction unfolds in the shape of a Flat correction and I therefore don't expect wave C to retrace a lot more than then the length of wave A. This is not written in stone and only a guideline but something to keep in mind when trading this pair.
I like the confluence between -1.272 Fib as well as the recent lows in the 1.315 zone. Wave C should have 5 inner waves and selling out of this 1.315 zone from lower time frames after divergence is what I'll be looking for.
updates will follow
www.timstuyts.com
www.facebook.com/timstuyts.com
www.youtube.com/watch?v=HvmWTm4f...
Kommentar:
This is what I like to see for GBPUSD or I let it the potential buy go. The levels are indicative but I really like to see at least a retest of 1.312 before a move towards 1.35 due to market dynamic which is even more important for the Pound pairs as a result of the Brexit referendum.
Kommentar:
So far so good guy's. We are seeing a bearish impulse in progress at the moment. Let's see whether it settles so we can sell the continuation. Read my original post for context.
Have a nice weekend everyone!
Have a nice weekend everyone!
Updates will follow.