GBP USD Gartley to be
Updated
I was expecting a Cypher to complete before GBP will take higher to retest the previous structure.
Anyway, we will have a Gartley to complete at that retest.
Bear in mind that AB=CD is much higher, so down trend to complete the expected Cypher is still in play
in my opinion.
This Cypher will offer a cluster of AB=CD and 88,6 fibo, a much better Risk Reward ratio,but a "chance" to loose the entry as well.
So in order to board in time WATCH FOR PRICE ACTION IN PRZ!
Anyway, we will have a Gartley to complete at that retest.
Bear in mind that AB=CD is much higher, so down trend to complete the expected Cypher is still in play
in my opinion.
This Cypher will offer a cluster of AB=CD and 88,6 fibo, a much better Risk Reward ratio,but a "chance" to loose the entry as well.
So in order to board in time WATCH FOR PRICE ACTION IN PRZ!
Note
On 4 H we are in a 4th wave of a 5 waves down . This one completes at 132777. Now if we look to the left we see that we have a very strong level of resistance and this coincides with a bearish Bat.So what next? A shallow retracement at the Gartley completion followed by a violation of the PRZ and than I expect the price tho rally to the price mentioned.
If I will find out how to attach a screen shot with my wave count and Bat I will update it.
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