This count might not be the preferable count for many traders. It is ugly, hard to see for the inexperienced eye but, its probability is increasing. A lot of traders are expecting the British Pound to head south including us but the chart has been giving us lots of 12 12 12 waves to the downside with no impulsive wave 3 of 3 of 3 which is worrying.
That's why I represent here another high-probability count in which GBPUSD now is in the last stages of completing minute wave c of Y of wave (C) of primary wave 2.
In other words, the price action now is finishing a "Running Flat" primary wave 2 and should start accelerating to the upside after reaching the 1.618 extension of wave (A) (around 1.49025)
This count and our other previously published counts are probable thats why we do not suggest holding any medium-term longs or shorts around these levels.
(Notes: minute wave a equals minute wave c in both waves W and Y)
Happy trading :)
That's why I represent here another high-probability count in which GBPUSD now is in the last stages of completing minute wave c of Y of wave (C) of primary wave 2.
In other words, the price action now is finishing a "Running Flat" primary wave 2 and should start accelerating to the upside after reaching the 1.618 extension of wave (A) (around 1.49025)
This count and our other previously published counts are probable thats why we do not suggest holding any medium-term longs or shorts around these levels.
(Notes: minute wave a equals minute wave c in both waves W and Y)
Happy trading :)
