In the correction channel, we have a chance to short this pair with low risk from now. If price breaks the channel of bull wave, I will go short.
hi all, Price is developing the correction at wave 4 and I plan to buy at the bottom of the correction. Cheers, URI
hi all, I expect the last wave that will coming soon for this pair. However, DYX is in bearish sentiment. We should wait for confirmation in price action to buy. Cheers, URI.
hi all, This pair is forming the correction / bearish ending wedge . I will sell the break out at lower timeframe.
Play with GBP now is risky because there are so many concern about Brexit until 25 Dec (deadline to finalize Brexit plan). The highly concern may form a consolidation in form of ending price action, then drop down @25Dec. Let's observe to see how price react with this event. Regards,
This pair would test top in the flat correction. I will update chart of 1H latter!
It seems to form bull channel after complete AB=CD. I were already long from 1.041 and looking for next entries.
The current correction is moving slowly and spending more time than previous impulse. So, I can define the current wave is a corrective one. The price action moves nearby the top of wave 1, the favorite zone to buy with low RR. Idea: Waiting for breaking of correction channel to buy OR buy right now and put a stop loss some pips bellow peak of wave 1.
A break out of bear channel and we can see an clear side way correction. The signal for buy next impulse wave!
If we are in wave 4, the next impulse would be a massive wave while the current price very near the invalid point (wave 4 cannot overlap wave 1). Keeping eyes on this!
The first impulse made a higher high, so we can assume that new trend had begun. The correction followed by a ZZ in the form of AB=CD. Price should finish 5 waves of C and test bottom again before going up a huge 5 waves..... Looking for long positions for next coming months and years is my trading direction for this pair!
First down wave is an impulse wave in which wave 5 may ended by an ending wedge. At least a deep correction (if trending turned to bear) otherwise price will break the peak to continue the bull trend from July 2011.
If my counts are right, in both cases, bull or bear the major trend is, this pair should go up for some weeks... So, keep in mind that just buy this pair in lower time frame.
We are likely at wave C of a deep correction ABC in 1D chart. The current wave C still in development. so, short wave 5 is also a good opportunity now. However, a big moving up wave should be the main target. Let's how it develop at the level of AB=CD (around 1.01).
We are in correction after Brexit, price may make a complex correction there. So, short is better than long in this case. I will wait for a clear bear channel before selling and also setting a TP in range.
It seems to be the 1st impulse wave of next up movement are coming after a complex correction wave. This first wave moved fast in time, clear in structure. It should retest the monthly trend line again. Looking for a breakout for next months.