B wave on the Pound?

In line with my analysis of the Dollar index (link below) I'm expecting a long trade on the pound, possibly back to the previous high before puts in a C wave back down.
Wait for the break of the trend line and then look for a trade set up. Keep you stops tight as wave B may not reach the top. Remember arrows denote direction only. You'll need to choose your own entry set up and watch what happens. Analysis is dynamic and these charts are not if things change I'll port updates.

I'll update my analysis as price develops so remember to follow to receive them.

Any one trying to learn Elliott Wave Theory can find a free comprehensive Building Blocks video course on my website see my profile for the link.

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Always wait for an entry set up before risking your money.

This is not investment advice - it is purely for educational and discussion purposes.
Your Ideas, comments and questions welcome

Good luck Steve Nixon

Yorum:

Price has pushed lower but I'm still looking for a long trade (B Wave) Remember we do not chase price. We only open trades when price does what we forecast and we see a trade set up. Neither of these thing have happened yet so we are not in the trade.