GBPUSD Short term Short Idea

13 jul 2020

After the events of the past two weeks where GU has had and completed a 5 wave motive impulse to the upside,
it has then landed us an opportunity to trade the corrective ABC structure. This structure inn particular contains
many confluence points which is a good trade indication. Price has broken below the neckline but has not retested
it yet. I will wait for confirmation by means of retest of the neckline.

Targets:

1.25000
1.24500

I hope you enjoy this setup. I am short term short on this pair but I am net long and will post the long trade bias once
this one pans out.
If you do enjoy it, do like and share, and your comments on views are much welcomed and appreciated.

14 jul 2020

Operación activa

Trade did not retrace to neckline and has however tumbled to the intended TP 1. In the process, GU has provided a second opportunity to go short by means of trading the 5th wave of the 5 wave subdivision of wave C. SL set above the neckline as wave 4 cannot enter price territory of wave 1 otherwise the wave is invalid.