Weekly Forecast for the Pound - Short

In my last few charts I've forecast long on the pound - each time I've been correct but only to the top of the current corrective structure then price crashed back down to remain within the structure. My longer term view has been and still is long but for this week I can only see short - the latest move up is just not convincing me that it will break out long.
Because my monthly forecast is long I'll not be trading this down but merely looking for signs of a long set up.

I'll update my ideas as they develop
First rule of trading - Protect you capital

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.

You can also follow updates via twitter (link from my TV profile)

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 - logicfxtrading

评论:

Here's one that didn't move as expected. Price has pushed further north but looks like it's about to correct back to the trend line. Watch for a break down because this still looks short within the larger corrective structure.