GBP/USD Trade #1
Active Wave 7
We determine that a new wave is active by noticing a correction of a valid W40.
(At Least 40 Pips prior to the correction)
- We redraw our fibonnaccis levels*
- We disregard the previous W40.6 fibonacci levels*
NEW W40 LOW: 9691
NEW W40 HIGH: 9741
OUR BIAS: No one "whole" candle has closed under 75.0% Fibonnacci Level of the newly drawn W40.7 (40 Pip Wave) so we hold Long, until a whole candle closes below.
I've taken the liberty of moving my STOP LOSS to Break Even at 9639 entered off a "whole" candle close above 25% of AW 1 or W 40.1