thillygoosth

GBP/USD A-B-C-D-E

OANDA:GBPUSD   英镑/美元
It was perfect opportunity to buy GU off this fork I have had on it. The abcde pattern can even be drawn differently, as a larger running pattern, both line up. But keep in mind we didn't quite hit the fib level (doesn't have to) and I think we could possibly wind up with a larger diagonal pattern (ABCDE) within this pitchfork. So at this point, wait for a flag to buy, and I will check the pattern and price action if it reaches other side of fork for a possible sell. If it breaks out of this fork we will probably be getting a 50-62% retracement of this wave, possibly more, then we get another large wave down for a 1-2-3 correction in the bigger long term picture. either way I think we are in a reversal pattern, it's just I think it can expand down further. What I mean is, you bought it right this second, it could chop up and just do a 3 wave, reaching the other side of fork not really resulting in a lot of pips. That's why I say wait for a flag.

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