That was a perfectly valid correction , however it doubled up into two corrections strung together, the good news is that the first one did not give a trend entry but the second did so happy days

This may well be the last sell before the upside resumes , we can now see a clear ABC pattern to the downside with 5 wave impulse in C coming to a climax

GBPUSD - direction short after correction 60 minute correction ,structure via M5 A , 3 waves (abc B, 3 waves) C 5 wave impulse to end image

I am done for the Day and week, closed all @57K nearly 2-1 RR it is good enough , of to enjoy the weekend, good luck all

TY, i made the post to inspire others, i think i give enough info on this forum to be able to do this now and then but ty

Below 1.3000 is my bet before a possibility of reversal to the upside

50,0000 USD PROFIT DAY image

NFP in 10 minutes and i have not a clue what is going to happen

We have had this nonsense imho with ADR the past week with others convinced price would reverse because the ADR was met and it blew through them to continue down

If that is the case it could just range for the rest of the day until nfp, having said that i have seen daily ranges of 200 plus pips on gu, so who knows what the DR will be

It is not a triangle the whole move was a running flat , the last 7 bars after the spike down are the triangle that indicates more sell, so why buy? image

It made a new low so that identifies the pattern as correct , whether it goes any lower is another matter

I will take the short - 20 pip risk, 5m is not my usual trading timeframe but sometimes helps to sharpen the brain. image image

That was the five complete so hard to judge where a correction will end but 5 up it was making the pattern an irregular flat, that is where C does not make a high higher that A Chart is incoming

Possibly , if i am right and this is C of the 5minute correction , we are already deep into 3 of the 5 waves a C makes, so i will stick to 3140s

What are the odds of a red or neutral ISM to complete the up move , in reality one piece of bad news will not change the overall long/ medium term direction

3172 might be an over estimation 3143 more likely as that takes as back to the old structure low from September that was broken down by the current GU swing down

GU is really fighting to complete C , gold is a problem as i said earlier Estimation is 3172 before a downturn or 5 waves up

Short term reversal ( correction) maybe in operation from lower timeframe 5M to be specific A is complete B (abc) complete, moving into C with a trend , this is not a trade for me , when C is complete i will look to see if everything is good to ...

Seen as you think other traders here are dopes , your talking out of your backside