Bizdrone

GBP/USD-Pound/Dollar – Bearish Minute C

GBP/USD-Pound/Dollar

GBP/USD-Pound/Dollar – Bearish Minute C

 GBP/USD-Pound/Dollar has been good to us and delivered our prediction for the Trend Shift, as per the previously posted “£/$-GBP/USD – Market Shift – Bearish Cycle Wave V” and also had its Retracement Legs, as per the previously posted “GBP/USD-£/$ – Bullish Retracement – Minute B”.

In our opinion, the Retracement Wave Minute B (blue) would come to an end as the current Wave Count is indicating that the Bullish run is almost complete.
Therefore, we are looking at the opportunity of a Bearish Sequence similar to the one in Minute A (blue) or even stronger.

GBP/USD-Pound/Dollar – 2H Chart (picture):

GBP/USD-Pound/Dollar

Minute B (blue) – Wave Analysis:

  • Minuette (a) (black) commenced on the up-side with a 5 Swings Sequence, determining the Zig-Zag Pattern and reaching the default target of 38.2% Fibonacci Retracements of Minute A (blue).
  • Minuette (b) (black) retraced 61.8% of Minuette (a) (black), also presenting a Zig-Zag Structure, but with an Expanding Triangle in Sub-Minuette b (red).
  • Minuette (c) (black) is still under development, showing a possible Ending Diagonal which could be followed for further hints on the actual direction.

GBP/USD-Pound/Dollar – 2H Interactive Chart:

Minute B (blue) – Fibonacci Measurements & Projections:

  • Minuette (c) (black) would be expected to end its Bullish Sequence at or around the 100% Fibonacci Extensions of Minuettes (a) & (b) (black), or even at the 150-161.8% if there would be a case of an extended leg.
  • 8 or 78.6 Fibonacci Retracements of Minute A (blue) would be treated as Resistances and we would be looking for a Bearish Divergence at those Levels.

GBP/USD-Pound/Dollar – Bearish Minute C – SELL Positions:

  • Aggressive Entry – 1.3070 (or Market Execution)
  • Moderate Entry – 1.3130
  • Conservative Entry – 1.3200
  • SL – 1.3300
  • Targets – 1.2750 / 1.2400

Safety Measures / Tips:

  • When in the green, moving SL to break-even or in profit.
  • If Conservative and looking for Bearish Confirmation, watching the Lower Trend-Line for Breach and then a Flag Formation.
  • Looking for a Bearish Divergence at the mentioned Fibonacci Levels.

Many pips ahead!

Comments ( 2 )

  • admin
    (September 13, 2017)

    IMPORTANT REVISION:

    SL hit – loss taken, although some of our Traders are still in the trade.

    GBP/USD Retracements contains a Running Flat in Minuette (b) and an Extension within Minuette (c) (black).

    At this stage, any upside would be limited in your view and we do not believe that we should give up on the SELL set-up, therefore, we are engaging in another Bearish view.

    Wave Count is completing and a Bearish Divergence is visible.

    GBP/USD – 2H Chart (picture):

    GBP/USD –2H Interactive Chart:


    GBP/USD-Pound/Dollar – Bearish Minute C by Libeloo24 on TradingView.com

    GBP/USD-Pound/Dollar – Bearish Minute C – SELL Positions:

    • Aggressive Entry – 1.3300
    • Conservative Entry – 1.3400
    • SL – 1.3500
    • Targets – 1.3070 / 1.2750 / 1.2400

    *Entry Levels from “£/$-GBP/USD – Market Shift – Bearish Cycle Wave V” posted back in July are still valid.

    *If Conservative, one would wait for the pink trend-line Breach and then a Flag Formation, or another limited Swing to the up-side and the Bearish Divergence confirmation.

  • admin
    (September 15, 2017)

    Stopped Out! …

    See “GBP/USD-Sterling/Dollar – Medium/Long Term – 1600 pips SELL Trade” for continuation.

Comments are closed.