Based on previous post: GBPUSD - Test (tradethevolumewaves.com)
These are the reason you should have not entered Long on the Signals
Reason #1 , Highest Down Wave with linear Pip move after a very long time and that 1 PRL never broke the range
Reason #2 Another high down volume wave. Now that 2 PRL could be a valid entry because that second down wave finished on 61.8 Fib were some reaction is expected.
Reason #3 Not any significant up volume waves.
Reason#4 We are having the 3rd PRL but you are right on the Fib with a bearish background and this equals to a bad move.
Great post. I appreciate these homework assignments - I learn much more, and remember much better, when getting the answer after having tried to 'solve' it on my own