Traders,
GBPUSD dominant trend remains Bearish in WEEKLY chart.
Since 7/10/2016 , it developed into a corrective 5-3-5 pattern EW ZigZag.
1 - Wave-A developed into a 5-wave motive structure, ending at 1.27750
2 - Wave-B developed into a 3-wave internal correction ending at 1.19840
3 - Wave-C is initiating a probable 5-wave structure. This is expected to conclude as a motive wave.
-If price bounce from 1.2600 area, watch for long setups, target 1.272 Fib extension of (iv) wave (1.31670), possible last (v) wave.
-If price initiates a flag near 1.2600, watch for short setups, a possible break down and the start of next impulsive wave.
Trade with discipline
Best
GBPUSD dominant trend remains Bearish in WEEKLY chart.
Since 7/10/2016 , it developed into a corrective 5-3-5 pattern EW ZigZag.
1 - Wave-A developed into a 5-wave motive structure, ending at 1.27750
2 - Wave-B developed into a 3-wave internal correction ending at 1.19840
3 - Wave-C is initiating a probable 5-wave structure. This is expected to conclude as a motive wave.
-If price bounce from 1.2600 area, watch for long setups, target 1.272 Fib extension of (iv) wave (1.31670), possible last (v) wave.
-If price initiates a flag near 1.2600, watch for short setups, a possible break down and the start of next impulsive wave.
Trade with discipline
Best
评论:
Looking for the last fifth wave up
评论:
4th corrective wave will complete soon.
Watch for next impulsive 5th
Watch for next impulsive 5th
评论:
评论:
Correction
评论:
Looking for shorts
交易开始:
Trade is active, entry price 1.31120, If you are not in, watch for the break if the flag
交易手动结束:
Closed at BE.
Didn't get the break of the flag for a further drop.
Instead now it looks bullish.
Didn't get the break of the flag for a further drop.
Instead now it looks bullish.
评论:
Good up move after the break of the flag, price of daily trendline.
评论:
Pattern is close to complete.
