GBPUSD 2H - 'Events Remaining' Forecast
If any of you got in topside on this move down, this analysis might indicate a good 'take profit' level to come.
As you can see here push1 hits at point 14 (total / 2) - see section 2 of the SandTiger label. At point 20 we've counted 3 of the 4 component values (also section 2). We have one more 8-count left to hit 28 (also section 2).
We might see some volatility or a DMC at the mid-count - point 24 - which is also an STV (section 4). But an endpoint of 28 is most likely.
This will likely run down further at the higher TFs - 1D and 4D, but for shorter term traders, 28 might be a good take profit point.
I'll wait for the endpoint to be hit, then for the absolute low to get the final (non-countable) event. I'll trade when that final event becomes permanent or is close to becoming permanent.
My gray 'path' line indicates the number of events likely remaining (not the form or price level)... If an FCT forms, remember that it's terminal events may be skipped in the count.
As you can see here push1 hits at point 14 (total / 2) - see section 2 of the SandTiger label. At point 20 we've counted 3 of the 4 component values (also section 2). We have one more 8-count left to hit 28 (also section 2).
We might see some volatility or a DMC at the mid-count - point 24 - which is also an STV (section 4). But an endpoint of 28 is most likely.
This will likely run down further at the higher TFs - 1D and 4D, but for shorter term traders, 28 might be a good take profit point.
I'll wait for the endpoint to be hit, then for the absolute low to get the final (non-countable) event. I'll trade when that final event becomes permanent or is close to becoming permanent.
My gray 'path' line indicates the number of events likely remaining (not the form or price level)... If an FCT forms, remember that it's terminal events may be skipped in the count.