GBPUSD Short - Elliott Wave count
scenario One: pound is in wave 4 which looks like a Regular Flat
- A corrective 3-wave move labelled as ABC
- Subdivision of waves A and B is in 3 waves
- Subdivision of wave C is in 5(3-3-3-3-3) waves ending diagonal
Fibonacci Ratio Relationship:
-Wave C = 123.6% of wave AB and < 168.1% of wave AB
Divergence
-Wave C have momentum divergence
stop and recount
price overlaps wave 1 (wave 4 scenario is invalid)
Wave C=>168.1% of wave AB (ABC scenario is invalid)
Note: I'll try to publish today another two scenarios both also favour short
- A corrective 3-wave move labelled as ABC
- Subdivision of waves A and B is in 3 waves
- Subdivision of wave C is in 5(3-3-3-3-3) waves ending diagonal
Fibonacci Ratio Relationship:
-Wave C = 123.6% of wave AB and < 168.1% of wave AB
Divergence
-Wave C have momentum divergence
stop and recount
price overlaps wave 1 (wave 4 scenario is invalid)
Wave C=>168.1% of wave AB (ABC scenario is invalid)
Note: I'll try to publish today another two scenarios both also favour short
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